Euro Sags As ECB Eyes Faster Bond Buys
Lui Andersen | May 21, 2015 12:42AM ET
EUR/USD Open 1.1144 High 1.1327 Low 1.1117 Close 1.1145
On Tuesday EUR/USD decreased with 155 pips. The European currency depreciated from 1.1327 to 1.1117 yesterday, matching the negative money flow sentiment at under -9%, closing the day at 1.1309. 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 upward channel is turning into scope trading, while on the 3 hour chart wide trading range has formed. Break above the nearest resistance and yesterday's top at 1.1327 may trigger further strengthening of the Euro. Going below today's bottom and first support at 1.1117, however, would confirm continuation of the bearish trend, towards next objective downwards 1.1000.
Quotes are moving below the widened 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and declining, while CCI is in line with the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.1327 1.1440 1.1563
Technical support levels: 1.1117 1.1000 1.0878
Yesterday +50 pips gained on EUR/USD from the following signal:
5:30 GMT+1 Down EUR/USD at 1.1307 Limit 1.1333 Target 1.1257, Target reached at 8:02 GMT+1.
Total yesterday +210, as shown at the website.
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