Euro Firms On Disappointing Fed
Lui Andersen | Feb 26, 2015 12:45AM ET
EUR/USD Open 1.1361 High 1.1390 Low 1.1334 Close 1.1358
On Wednesday Euro/Dollar decreased with 55 pips. The European currency depreciated from 1.1390 to 1.1334 yesterday, matching the negative money flow sentiment at almost -9%, closing the day at 1.1358. This morning the Euro is trading quietly, with movements at the upper half of yesterday's range for now.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.1390 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.1334, however, would confirm continuation of the bearish trend, towards next objective downwards 1.1220.
Quotes are moving above the crossing 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is neutral and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.1390 1.1505 1.1630
Technical support levels: 1.1334 1.1220 1.1100
Yesterday +7 pips gained on EUR/USD from the following signal:
7:13 GMT Up EUR/USD at 1.1372 Limit 1.1346 Target 1.1422, exit given at 7:13 GMT.
Total yesterday +92, as shown at website.
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