EUR/USD Open 1.2994 High 1.3038 Low 1.2971 Close 1.2995
On Wednesday the Euro/Dollar continued with the tentative and within a range movements. The European currency depreciated from 1.3038 to 1.2971 yesterday, not exactly matching the neutral Interbank sentiment projection, at around +5%, closing the day at 1.2995. This morning the pair is still moving without clear direction. On the 1 hour chart the upwards channel is still trying to renew, while on the 3 hour the upward channel is intact for now. Break above the nearest resistance and yesterday's top at 1.3038 may trigger further recovery of the Euro. Going bellow yesterday's bottom and first support at 1.2971, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2874. Today's focus is on France PPI, Italy Business confidence, Germany Unemployment, and EU 16 Economic sentiment index at 6:45, 7:30, 7:55 and 9 GMT respectively. Quotes are moving almost in line with the 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is neutral calm rising, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.3038 1.3144 1.3250
Technical support levels: 1.2971 1.2874 1.2755
Yesterday we made +45 pips profit on EUR/USD from the following signal:
5:33 GMT+1 Buy EUR/USD at 1.2997 SL 1.2971 TP 1.3047 exit sent 8:11 GMT+1.
Total yesterday +129.
3 September 2010
| iFOREX Technical Analysis EUR/USD 1.2814 On Thursday the Euro/Dollar rose insignificantly. The European appreciated from 1.2779 to 1.2838 yesterday, matching the positive Interbank sentiment projection, at around +7%, closing the day at 1.2822...
2 September 2010
| iFOREX Technical Analysis EUR/USD 1.2787 On Wednesday the Euro/Dollar rose sharply, climbing with around 180 pips. The European appreciated from 1.2667 to 1.2849 yesterday, matching the positive Interbank sentiment projection, at around +3%, closing the day at 1.2809...
31 August 2010
| iFOREX Technical Analysis EUR/USD 1.2660 - 31 August 2010 On Monday the Euro/Dollar started declining, as expected, dropping with just over 100 pips. The European depreciated from 1.2768 to 1.2633 yesterday, not matching the positive Interbank sentiment projection, at around +1%, closing the day at 1.2661...
30 August 2010
| iFOREX Technical Analysis EUR/USD 1.2747 On Friday the Euro/Dollar traded slightly upwards, making insignificant rise. The European appreciated from 1.2690 to 1.2768 on Friday, matching the positive Interbank sentiment projection, at around +1%, closing the week at 1.2757...
27 August 2010
| iFOREX Technical Analysis EUR/USD 1.2710 On Thursday the Euro/Dollar traded slightly upwards, climbing with around 100 pips. The European appreciated from 1.2653 to 1.2758 yesterday...
6 September 2010
| ACM Waiting on Private Payrolls Markets are anxious ahead of today’s critical payroll report. The Forex Market settled into an easy range during the Asian session and traders don’t seem to be in any kind of hurry to open new positions given the uncertainly of today’s US data...
6 September 2010
| FBS Political uncertainty in Japan In Japan Ichiro Ozawa from the Democratic Party who opposes prime minister Naoto Kan in September 14 party election for this position claimed that intervention to the currency market in order to prevent national currency from appreciation is quite possible. Many analysts believe that if Ozawa wins, USD/JPY may start unexpectedly climbing.
3 September 2010
| ACM FX Market Skittish Before ECB The rally in risk appetite boosted by strong Chinese and Australian data yesterday was further encouraged after our last article by stronger than expected US ISM numbers...
3 September 2010 Daily Forex Analysis GBPUSD stays below a falling trend line on 4-hour chart and remains in downtrend from 1.5997. As long as the trend line resistance (Now at 1.5525) holds, another fall to 1.5200 is still possible...
3 September 2010
| iFOREX Technical Analysis EUR/USD 1.2814 On Thursday the Euro/Dollar rose insignificantly. The European appreciated from 1.2779 to 1.2838 yesterday, matching the positive Interbank sentiment projection, at around +7%, closing the day at 1.2822...
