On Tuesday Euro/Dollar traded within 85 pip range. The European currency depreciated from 1.3151 to 1.3064 yesterday, matching the negative money flow sentiment at below -17%, closing the day at 1.3071. This morning the Euro weakened slightly further, reaching 1.3055.
On the 1 hour chart the upward channel has turned into range trading, while on the 3 hour chart wide trading scope has formed. Break above the nearest resistance and yesterday's top at 1.3144 may trigger further strengthening of the Euro. Going below today's bottom and first support at 1.3055, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2943.
Today's focus is on France GDP, and U.S. GDP and PCE price index, at 6:45 and 12:30 GMT respectively.
Quotes are moving below the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.3144 1.3260 1.3382
Technical support levels: 1.3055 1.2943 1.2820
Yesterday we made +37 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3114 SL 1.3088 TP 1.3164, exit sent at 7:58 GMT+1.
Total yesterday +105, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">