On Thursday Euro/Dollar continued increasing with 130 pips. The European currency appreciated from 1.2932 to 1.3061 yesterday, matching the positive money flow sentiment at almost +24%, closing the day at 1.3045. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart quotes are held within wide trading range. Break above the nearest resistance and yesterday's top at 1.3061 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2932, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2820.
Today's focus is on Germany Retail sales, France PPI and Consumer spending, Italy CPI, EMU CPI and Unemployment, and U.S. Personal income, spending, PCE price index, Chicago PMI, and Michigan Consumer Sentiment Index, at 6, 6:45, 9, 12:30, 13:45, and 13:55 GMT respectively.
Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3061 1.3175 1.3300
Technical support levels: 1.2932 1.2820 1.2700
Yesterday we made +47 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.2960 SL 1.2934 TP 1.3010, exit sent at 10:58 GMT+1.
Total yesterday +198, as shown at our web site.
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EUR/USD Lifts Further On Soft U.S. Data
Published 05/31/2013, 12:29 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Lifts Further On Soft U.S. Data
EUR/USD Open 1.3043 High 1.3061 Low 1.2932 Close 1.3045
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