EUR/USD Gains On U.S. Budget Impasse
EUR/USD Open 1.3519 High 1.3538 Low 1.3460 Close 1.3524On Wednesday Euro/Dollar increased with almost 80 pips. The European currency appreciated from 1.3460 to 1.3538 yesterday, matching the positive money flow sentiment at over +16%, closing the day at 1.3524. 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 upward channel has slowed down, while on the 3 hour chart new upward channel has emerged. Break above the nearest resistance and yesterday’s top at 1.3538 may trigger further strengthening of the Euro. Going below yesterday’s bottom and first support at 1.3460, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3345.Today’s focus is on France Consumer confidence, Italy Retail sales, EMU M3 money supply, and U.S. Jobless claims, GDP, PCE price index, and Pending home sales, at 6:45, 8, 12:30, and 14 GMT respectively.Quotes are moving just above the crossing 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 is in line with the 100 line on the 1 hour chart, giving over all neutral signals.Technical resistance levels: 1.3538 1.3650 1.3774Technical support levels: 1.3460 1.3345 1.3220Yesterday we made +3 pips profit/loss on EUR/USD from the following sent to clients only signal:5:15 GMT+1 Sell EUR/USD at 1.3468 SL 1.3494 TP 1.3418, exit sent at 5:18 GMT+1.Total yesterday +53, as shown at our web site.
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