EUR/USD Remains Firm Around 1.31
ZIFX.com | Jul 12, 2013 12:41AM ET
On Thursday Euro/Dollar decreased with 200 pips. The European currency depreciated from 1.3210 to 1.3004 yesterday, not matching the positive money flow sentiment at almost +16%, closing the day at 1.3094. This morning the Euro is trading quietly, with movements within yesterday's range for now.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart quotes have returned into the wide trading range. Break above the nearest resistance and yesterday's top at 1.3210 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3004, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2890.
Today's focus is on Italy CPI and HICP, EMU Industrial production, and U.S. PPI and Michigan sentiment index, at 8, 9, 12:30, and 13:55 GMT.
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 positive and calm, MACD is positive and qrising, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3210 1.3322 1.3448
Technical support levels: 1.3004 1.2890 1.2768
Yesterday we made +11 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3136 SL 1.3110 TP 1.3186, exit sent at 6:07 GMT+1.
Total yesterday +113, as shown at our web site.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.