Euro Climbs On Soft U.S. Data
Lui Andersen | Mar 26, 2015 01:41AM ET
EUR/USD Open 1.0960 High 1.1015 Low 1.0899 Close 1.0970
On Wednesday euro/dollar increased with 115 pips. The European currency appreciated from 1.0899 to 1.1015 yesterday, matching the positive money flow sentiment at above +9%, closing the day at 1.0970. This morning the euro is trading quietly, with movements at the upper end of yesterday's range for now.
On the 1 hour chart new upward channel is forming, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.1006 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.0899, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0785.
Quotes are moving just above the parallel 20 and 50 EMA on the 1 hour chart, indicating slim 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 light long signals.
Technical resistance levels: 1.1015 1.1130 1.1254
Technical support levels: 1.0899 1.0785 1.0660
Yesterday +50 pips gained on EUR/USD from the following signal:
7:56 GMT Up EUR/USD at 1.0951 Limit 1.0925 Target 1.1001, Target reached at 12:06 GMT.
Total yesterday +166, as shown at the website.
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