EUR/USD Open 1.2988 High 1.3043 Low 1.2954 Close 1.2992
On Tuesday the Euro/Dollar traded hesitantly and within a range. The European currency depreciated from 1.3043 to 1.2954 yesterday, almost matching the neutral Interbank sentiment projection, at around +5%, closing the day at 1.2992. This morning the pair is still moving without clear direction. On the 1 hour chart the upwards channel is still trying to resume, while on the 3 hour the upward channel looks good for now. Break above the nearest resistance and yesterday’s top at 1.3043 may trigger further recovery of the Euro. Going bellow yesterday’s bottom and first support at 1.2954, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2874. Today’s focus is on Germany CPI and HICP at 12:15 GMT. Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and rising, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long forex signals.
Trading resistance levels: 1.3043 1.3144 1.3250
Trading support levels: 1.2954 1.2874 1.2755
Trading range: 1.2975 – 1.3040
Trend: Upward
Forex Trading Strategy
Buy at 1.2988 Stop Loss 1.2958 Take Profit 1.3028
Yesterday we made +25 pips profit on EUR/USD from the following forex signal:
5:33 GMT+1 Buy EUR/USD at 1.2996 Stop Loss 1.2970 Take Profit 1.3046 exit sent 7:52 GMT+1.
Total yesterday +92, as shown in details here.
Previous Analysis can be found HERE.
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Disclaimer: Our technical analysis are free. They are not daily/evening forecast, neither a forex signal. Therefore the expectations shown here may differ from our forecasts and signals, to give readers different point of view. The analysis are updated around 5:00, 8:00 and 10:00 GMT ±1 hour, for the EUR/USD, GBP/USD and USD/JPY respectively. By viewing our analyses you agree to our terms. Are technical analysis a forex signal?
