Euro Nearly 11 Year Low Ahead Of U.S. Jobs And ECB
Lui Andersen | Mar 04, 2015 12:47AM ET
EUR/USD Open 1.1180 High 1.1241 Low 1.1159 Close 1.1171
On Tuesday Euro/Dollar increased with 65 pips. The European currency appreciated from 1.1153 to 1.1218 yesterday, not matching the negative money flow sentiment at nearly -8%, closing the day at 1.1171. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart the downward channel is making renewal attempts, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.1241 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.1159, however, would confirm continuation of the bearish trend, towards next objective downwards 1.1045.
Quotes are moving below the parallel 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is neutral negative calm, MACD is negative and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.1241 1.1355 1.1480
Technical support levels: 1.1159 1.1045 1.0920
Yesterday +43 pips gained on EUR/USD from the following signal:
5:30 GMT Down EUR/USD at 1.1197 Limit 1.1223 Target 1.1147, exit given at 12:01 GMT.
Total yesterday +154, as shown at the website.
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