On Wednesday, the EUR/USD decreased significantly by165 pips. The European currency depreciated from 1.2998 to 1.2832 yesterday, matching the negative money flow sentiment at below -18% and closing the day at 1.2849. The Euro weakened a little more this morning , reaching 1.2823.
The downward channel is still on hold on the 1 hour chart, while quotes are held within the wide trading rangeon the 3 hour chart. Abreak above the nearest resistance and yesterday's top at 1.2998 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.2823, however, would confirm continuation of the bearish trend towards the next objective downwards of 1.2710.
Today's data focus is on France, Germany, EMU PMI, U.S.A Initial Jobless claims and New home sales, at 7, 7:30, 8, 12:30 and 14 GMT respectively.
Quotes are moving bellow the crossing 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 thinly positive and quiet, while the CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.2998 1.3110 1.3234
Technical support levels: 1.2823 1.2710 1.2588
Yesterday we made +17 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.2919 SL 1.2945 TP 1.2869, exit sent at 7:38 GMT+1.
Total yesterday +177, as shown at our web site.
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EUR/USD Shaken By Bernanke Remarks
Published 05/23/2013, 12:42 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Shaken By Bernanke Remarks
EUR/USD Open 1.2847 High 1.2998 Low 1.2823 Close 1.2849
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