Euro Steadies Ahead Of Tomorrow's ECB Policy
ZIFX com | Sep 03, 2014 12:32AM ET
Open 1.3132
High 1.3137
Low 1.3109
Close 1.3131
On Tuesday the EUR/USD traded within narrow almost 30 pip range. The European currency depreciated from 1.3137 to 1.3109 yesterday, matching the negative money flow sentiment at under -7%, closing the day at 1.3131. This morning the euro is trading quietly, with movements within yesterday's range for now.
On the 1 hour chart the downward channel is slowing down, while on the 3 hour chart the downward channel looks good. Break above the nearest resistance and yesterday's top at 1.3137 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3109, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2995.
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 neutral 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: 1.3137 1.3250 1.3374
Technical support levels: 1.3109 1.2995 1.2870
Yesterday we made +9 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3118 SL 1.3144 TP 1.3068, exit sent at 10:37 GMT+1.
Total yesterday +104 pips
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.