On Thursday Euro/Dollar increased with 135 pips. The European currency appreciated from 1.2820 to 1.2957 yesterday, not matching the negative money flow sentiment at almost -10%, closing the day at 1.2930. 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 is still on hold, while on the 3 hour chart quotes are held within the wide trading range. Break above the nearest resistance and yesterday's top at 1.2957 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2820, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2705.
Today's focus is on Germany GDP, France Business Climate, Italy Consumer confidence, Germany IFO business climate index, and USA Durable goods, at 6, 6:45, 8, and 12:30 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, MACD is thinly positive and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.2957 1.3072 1.3200
Technical support levels: 1.2820 1.2705 1.2580
Yesterday we made +25 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:17 GMT+1 Sell EUR/USD at 1.2853 SL 1.2879 TP 1.2803, exit sent at 7:05 GMT+1.
Total yesterday +120, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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EUR/USD Recovers Most Wednesday's Losses
Published 05/24/2013, 12:36 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Recovers Most Wednesday's Losses
EUR/USD Open 1.2933 High 1.2957 Low 1.2820 Close 1.2930
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