Euro Around 11 Year Low, Awaiting ECB Easing
Lui Andersen | Mar 05, 2015 12:44AM ET
EUR/USD Open 1.1078 High 1.1185 Low 1.1054 Close 1.1072
On Wednesday euro/dollar decreased with 120 pips. The European currency depreciated from 1.1185 to 1.1061 yesterday, matching the negative money flow sentiment at under -15%, closing the day at 1.1072. This morning the euro slipped slightly further, reaching 1.1054.
On the 1 hour chart the downward channel has resumed, while on the 3 hour chart the downward channel is is making renewal attempts. Break above the nearest resistance and yesterday's top at 1.1185 may trigger further strengthening of the euro. Going below today's bottom and first support at 1.1054, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0940.
Quotes are moving below the widened 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.1185 1.1300 1.1422
Technical support levels: 1.1054 1.0940 1.0917
Yesterday +50 pips gained on EUR/USD from the following signal:
5:30 GMT Down EUR/USD at 1.1166 Limit 1.1192 Target 1.1116, Target reached at 14:15 GMT.
Total yesterday +137, as shown at the 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.