Euro Slides To One Year Low On ECB Easing Outlook
ZIFX com | Sep 02, 2014 12:52AM ET
EUR/USD
Open 1.3128
High 1.3146
Low 1.3116
Close 1.3126
On Monday the EUR/USD increased insignificantly with almost 30 pips. The European currency appreciated from 1.3118 to 1.3146 yesterday, not matching the negative money flow sentiment at around -8%, closing the day at 1.3126. This morning the Euro slipped, dropping to 1.3116.
On the 1 hour chart the downward channel has resumed, while on the 3 hour chart the downward channel looks good. Break above the nearest resistance and today's top at 1.3146 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3116, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3000.
Quotes are moving below the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.3146 1.3260 1.3385
Technical support levels: 1.3116 1.3000 1.2876
Yesterday we made +4 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3125 SL 1.3151 TP 1.3075, exit sent at 5:21 GMT+1.
Total yesterday: +46 pips.
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