EUR/USD Stable As No Signs To U.S. Shutdown End
ZIFX com | Oct 08, 2013 12:41AM ET
EUR/USD
Open 1.3575
High 1.3591
Low 1.3541
Close 1.3578
On Monday the EUR/USD traded within 50 pip range. The european currency depreciated from 1.3591 to 1.3541 yesterday, not matching the positive money flow sentiment at almost +17%, closing the day at 1.3578. This morning the euro is trading quietly, with movements within yesterday's range for now.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and yesterday's top at 1.3591 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3541, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3430.
Today's focus is on Germany Current account, Trade balance and Factory orders, and U.S. Trade balance, at 6, 10, and 12:30 GMT respectively.
Quotes are moving just below the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is thinly positive and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.3591 1.3705 1.3830
Technical support levels: 1.3541 1.3430 1.3306
Yesterday we made +1 pip profit/loss on EUR/USD signaling the following to clients:
5:15 GMT+1 Sell EUR/USD at 1.3563 SL 1.3589 TP 1.3513, exit sent at 5:15 GMT+1.
Total yesterday +60.
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