EUR/USD Open 1.3672 High 1.3776 Low 1.3644 Close 1.3676
The Interbank sentiment which was bearish for the last 2 days, and on Monday at 13.22%, finally got its influence over the Euro/Dollar. The currency couple depreciated from 1.3776 down to 1.3644 yesterday, closing the day at 1.3676. The maintaining of the secondary bullish channel on the 3 hour chart is valid for now, especially is we see convincing pull above the nearest resistance and Friday’s top at 1.3789, which we will observe for medium term outlook. Going bellow Monday’s bottom and first support for today at 1.3644 should confirm continuation of the bearish trend, which started this week, towards next target 1.3541. Today are the French, Italian and EU CPI, and Germany ZEW economic expectations at 7:45, 9 and 10 GMT respectively, and U.S. Housing, Exports and Imports at 13:30 GMT along with other events. Quotes are moving bellow the 50 and above the 20 EMA on the 1 hour chart, indicating weak bullish pressure. The value of the RSI indicator is in the overbought zone, MACD is negative and calm, while CCI is positive and quiet on the 1 hour chart, giving overall mixed signals.
Trading resistance levels: 1.3789 1.3895 1.4000
Trading support levels: 1.3644 1.3541 1.3468
Trading range: 1.3710 – 1.3645
Trend: Downward
Forex Trading Strategy
Sell at 1.3697 Stop Loss 1.3727 Take Profit 1.3657
Yesterday we made +46 pips profit on EUR/USD from the following forex signal:
7:22 GMT Sell EUR/USD at 1.3759 SL 1.3785 TP 1.3709 exit sent 9:08 GMT
Total yesterday +156, as shown in details here.
Previour Analysis can be found HERE.
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Disclaimer: Our technical analysis are free. They are not daily/evening forecast, neither a trading 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 6:00-15, 9:00-15 and 11:00-15 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 trading signal?
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