Euro Hangs As ECB Set To Stick To QE Despite Recent Climb
Lui Andersen | Apr 16, 2015 01:45AM ET
EUR/USD Open 1.0672 High 1.0747 Low 1.0569 Close 1.0681
On Wednesday Euro/Dollar increased with 130 pips after ECB press conference. The European currency appreciated from 1.0569 to 1.0703 yesterday, matching the positive money flow sentiment at above +6%, closing the day at 1.0681. This morning the Euro continued lifting, reaching 1.0747.
On the 1 hour chart quotes are back into the scope trading, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.0747 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.0569, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0454.
Quotes are moving above the widening 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is neutral and inclining upwards, while CCI is about to cross down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.0747 1.0860 1.0984
Technical support levels: 1.0569 1.0454 1.0330
Yesterday +22 pips gained on EUR/USD from the following signal:
7:31 GMT+1 Up EUR/USD at 1.0643 Limit 1.0617 Target 1.0693, exit given at 7:37 GMT+1.
Total yesterday +47, as shown at the website.
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