On Tuesday, the EUR/USD increased by 90 pips. The European currency appreciated from 1.3325 to 1.3417 yesterday, matching the positive money flow sentiment at above +18% and closing the day at 1.3381. The Euro is trading quietly this morning, with movements at the upper end of yesterday's range for now.
A new upward channel has resumed on the 1 hour chart, while wide trading range has formed on the 3 hour chart. A break above the nearest resistance and yesterday's top at 1.3417 could trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3325, however could confirm continuation of the bearish trend, towards the next objective downwards of 1.3210.
Today's focus is on the U.S. FOMC meeting announcement and the Fed's Monetary Policy Statement and press conference, at 18 and 18:30 GMT respectively.
Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm. The MACD is also positive and quiet, while the CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.3417 1.3530 1.3654
Technical support levels: 1.3325 1.3210 1.3086
Yesterday we made +9 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:19 GMT+1 Buy EUR/USD at 1.3350 SL 1.3324 TP 1.3400, exit sent at 6:42 GMT+1.
Total yesterday +53, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">