Open 1.3492
High 1.3557
Low 1.3478
Close 1.3490
On Monday the EUR/USD decreased with almost 80 pips. The European currency depreciated from 1.3557 to 1.3478 yesterday, not matching the positive money flow sentiment at around +12%, closing the day at 1.3490. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart quotes broke up of the wide trading scope. Break above the nearest resistance and yesterday's top at 1.3557 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3478, however, would confirm continuation of the bearish trend towards next objective downwards 1.3365.
Today's focus is on Germany IFO business climate, and U.S. Redbook and Consumer confidence, at 8, 12:55, and 14 GMT respectively.
Quotes are moving bellow the crossing and close 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, the MACD is positive and quiet, while the CCI has thinly crossed down the 100 line on the 1 hour chart giving over all light short signals.
Technical resistance levels: 1.3557 1.3672 1.3800
Technical support levels: 1.3478 1.3365 1.3240
Yesterday we made +20 pips profit/loss on EUR/USD signalling to clients:
5:15 GMT+1 Buy EUR/USD at 1.3525 SL 1.3499 TP 1.3575, exit sent at 7:13 GMT+1.
Total yesterday +146.EUR/USD Hourly Chart" title="EUR/USD Hourly Chart" src="https://d1-invdn-com.akamaized.net/content/pica8b0f4a64936d0df2a06a8af3bbb1cea.png" height="540" width="640">