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.
Technical resistance levels: 1.3789 1.3895 1.4000
Technical support levels: 1.3644 1.3541 1.3468
Trading range: 1.3710 – 1.3645
Trend: Downward
Sell at 1.3697 SL 1.3727 TP 1.3657
Written by iFOREX.bg
