On Thursday EUR/USD increased with 180 pips. The European currency appreciated from 1.3038 to 1.3280 yesterday, matching the positive money flow sentiment at above +29%, closing the day at 1.3165. This morning the euro is trading quietly, with movements at the upper end of yesterday's range for now.
On the 1-hour chart quotes are still holding within the trading range, while on the 3-hour chart quotes are heading towards the upper scope limit. Break above the nearest resistance and yesterday's top at 1.3280 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3038, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2921.
Today's focus is on US, Export International trade, Import and Export, Import and Export prices, and Federal budget, at 13:30 and 19 GMT respectively.
Quotes are moving way above the crossing and close 20 and 50 EMA on the 1-hour chart, indicating strong bullish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1-hour chart, giving over all light long signals.
Technical resistance levels: 1.3280 1.3400 1.3526
Technical support levels: 1.3038 1.2921 1.2800
EUR/USD Chart" title="EUR/USD Chart">