Euro Declines On Positive US Growth Data
ZIFX com | Jul 31, 2014 12:30AM ET
Open 1.3393
High 1.3416
Low 1.3366
Close 1.3394
On Wednesday the EUR/USD decreased with 50 pips. The European currency depreciated from 1.3416 to 1.3366 yesterday, matching the negative money flow sentiment at nearly -15%, closing the day at 1.3394. This morning the euro is trading quietly, with movements within yesterday's range for now.
On the 1 hour chart the downward channel is extending, while on the 3 hour chart the downward channel is intact. Break above the nearest resistance and yesterday's top at 1.3416 may trigger further strengthening of the euro. Going below today's bottom and first support at 1.3366, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3252.
Quotes are moving just below the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.3416 1.3530 1.3655
Technical support levels: 1.3366 1.3252 1.3130
Yesterday we made +43 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3409 SL 1.3435 TP 1.3359, exit sent at 15:50 GMT+1.
Total yesterday +190.
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