On Thursday Euro/Dollar traded within 110 pip range. The European currency depreciated from 1.3390 to 1.3277 yesterday, not matching the positive money flow sentiment at nearly +17%, closing the day at 1.3369. This morning the Euro is trading quietly, with movements at the upper half of yesterday's range for now.
On the 1 hour chart new upward channel has resumed, while on the 3 hour chart quotes broke up of the trading range. Break above the nearest resistance and yesterday's top at 1.3390 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3277, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3164.
Today's focus is on EMU Harmonized CPI, and U.S. PPI, Current account, Industrial production, Capacity utilization, and Michigan sentiment index, at 9, 12:30, 13:15, and 13:55 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 neutral and calm, MACD is positive and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.3390 1.3504 1.3630
Technical support levels: 1.3277 1.3164 1.3040
Yesterday we made +33 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3355 SL 1.3329 TP 1.3405, exit sent at 7:29 GMT+1.
Total yesterday +147, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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The EUR/USD 1 Hour Chart Upward Channel Still Intact
Published 06/14/2013, 12:37 AM
Updated 01/01/2017, 02:20 AM
The EUR/USD 1 Hour Chart Upward Channel Still Intact
EUR/USD Open 1.3363 High 1.3390 Low 1.3277 Close 1.3369
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