On Thursday Euro/Dollar traded within 55 pip range. The European currency appreciated from 1.2999 to 1.3057 yesterday, not matching the negative money flow sentiment at almost -16%, closing the day at 1.3033. This morning the Euro lifted slightly further, reaching 1.3075.
On the 1 hour chart new downward channel has formed, while on the 3 hour chart quotes are moving within wide trading range. Break above the nearest resistance and today's top at 1.3075 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.2999, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2884.
Today's focus is on Germany Retail sales, France Consumer spending and PPI, Italy PPI and CPI, Germany CPI and HICP, and U.S. Chicago PMI and Consumer sentiment index, at 6, 6:45, 8, 9, 12, 13:45, and 13:55 GMT respectively.
Quotes are moving above the close 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3075 1.3190 1.3314
Technical support levels: 1.2999 1.2884 1.2760
Yesterday we made +15 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3031 SL 1.3057 TP 1.2981, exit sent at 8:22 GMT+1.
Total yesterday +175, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">