Euro Low As EU Considers Tougher Russia Sanctions
ZIFX com | Jul 24, 2014 12:33AM ET
EUR/USD Open 1.3458 High 1.3474 Low 1.3451 Close 1.3459
On Wednesday Euro/Dollar traded within narrow 20 pip range. The European currency depreciated from 1.3474 to 1.3451 yesterday, matching the negative money flow sentiment at around -10%, closing the day at 1.3459. This morning the Euro is trading quietly, with movements at the lower half of yesterday's range for now.
On the 1 hour chart new downward channel has emerged, while on the 3 hour chart the downward channel has resumed. Break above the nearest resistance and yesterday's top at 1.3474 may trigger further strengthening of the Euro. Going below today's bottom and first support at 1.3451, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3340.
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 negative and hesitant, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.3474 1.3590 1.3714
Technical support levels: 1.3451 1.3340 1.3217
Yesterday we made +10 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:16 GMT+1 Sell EUR/USD at 1.3464 SL 1.3490 TP 1.3414, exit sent at 8:18 GMT+1.
Total yesterday +98, as shown at our web site.
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