EUR/USD Gains On Bad U.S. Durable Orders
ZIFX.com | Apr 25, 2013 12:43AM ET
On Wednesday, the EUR/USD traded within 80 pip range. The European currency appreciated from 1.2952 to 1.3034 yesterday, matching the positive money flow sentiment at almost +14%, closing the day at 1.3011. This morning, the euro lifted more on bad U.S durable orders data, reaching 1.3062.
The upward channel has turned into range trading on the 1 hour chart, while the downward channel trading scope is forming on the 3 hour chart. A break above the nearest resistance and today's top at 1.3062 may trigger further strengthening for the euro. Going below yesterday's bottom and first support at 1.2952, would confirm continuation of the bearish trend towards the next objective downwards of 1.2840.
Today is Italy's Liberation Day; focus is on U.S. Jobless claims 12:30 GMT.
Quotes are moving above the crossing and almost even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI positive is negative and calm. MACD is negative and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.3062 1.3175 1.3300
Technical support levels: 1.2952 1.2840 1.2717
Yesterday we made +46 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.2998 SL 1.3024 TP 1.2948, exit sent at 9:00 GMT+1.
Total yesterday +111, as shown at our web site.
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