Euro Weak Even As Yellen Drives Home Message Of Patience
Lui Andersen | Mar 31, 2015 12:52AM ET
EUR/USD Open 1.0828 High 1.0896 Low 1.0782 Close 1.0824
On Monday euro/dollar decreased with 85 pips. The European currency depreciated from 1.0896 to 1.0809 yesterday, matching the negative money flow sentiment at under -11%, closing the day at 1.0824. This morning the euro weakened further against the dollar, reaching 1.0782.
On the 1 hour chart the new upward channel is turning into scope trading, while on the 3 hour chart the downward channel is making renewal attempts. Break above the nearest resistance and yesterday's top at 1.0896 may trigger further strengthening of the euro. Going below today's bottom and first support at 1.0782, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0670.
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 declining, 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: 1.0896 1.1010 1.1134
Technical support levels: 1.0782 1.0670 1.0548
Yesterday +38 pips gained on EUR/USD from the following signal:
5:30 GMT+1 Down EUR/USD at 1.0862 Limit 1.0888 Target 1.0812, exit given at 8:14 GMT+1.
Total yesterday +198, as shown at the website.
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.