EUR/USD Firm But Below Two Week High
ZIFX com | Aug 20, 2013 12:35AM ET
Open 1.3335
High 1.3375
Low 1.3314
Close 1.3330
On Monday EUR/USD continued trading within narrow 60 pip range. The european currency appreciated from 1.3314 to 1.3375 yesterday, matching the positive money flow sentiment at around +14%, closing the day at 1.3330. 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 is turning into range trading, while on the 3 hour chart quotes are holding within wide trading scope. Break above the nearest resistance and yesterday's top at 1.3375 may trigger further strengthening of the euro. Going below yesterday's bottom.
Today's focus is on Germany PPI and U.S. Redbook, at 6 and 12:55 GMT respectively.
Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.3375 1.3492 1.3616
Technical support levels: 1.3314 1.3200 1.3078
Yesterday we made +10 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3324 SL 1.3350 TP 1.3274, exit sent at 7:42 GMT+1.
Total yesterday +96.
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