On Thursday Euro/Dollar continued decreasing with 140 pips. The European currency depreciated from 1.3301 to 1.3159 yesterday, matching the negative money flow sentiment at around -19%, closing the day at 1.3216. This morning the Euro is trading quietly, with movements at the lower half of yesterday's range for now.
On the 1 hour chart new upward channel is on hold, while on the 3 hour chart wide trading range has formed. Break above the nearest resistance and yesterday's top at 1.3301 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3159, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3046.
Today's focus is on EMU Current account at 8 GMT.
Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.3301 1.3215 1.3340
Technical support levels: 1.3159 1.3046 1.29210
Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3258 SL 1.3284 TP 1.3208, TP reached at 9:31 GMT+1.
Total yesterday +180, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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EUR/USD Extends Downtrend Further Below 1.32
Published 06/21/2013, 12:34 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Extends Downtrend Further Below 1.32
EUR/USD Open 1.3232 High 1.3301 Low 1.3159 Close 1.3216
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