EUR/USD Open 1.3404 High 1.3414 Low 1.3300 Close 1.3386
The Euro depreciated insignificantly on Monday. Euro/Dollar decreased from 1.3395 to 1.3300 yesterday, in line with the Interbank sentiment projection, at around -14%, closing the day at 1.3386. On the 1 hour chart the newly formed downward channel is now interrupted with strong upward adjustment. Break above the nearest resistance and today’s top at 1.3414 may lead to further recovery of the Euro. Going bellow yesterday’s bottom and first important support at 1.3300, however, should confirm continuation of the bearish trend, towards next target 1.3213. Today’s focus is on France and Italy Consumer confidence and France unemployment figures at 6:45, 7:30 and 16 GMT respectively. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The values of the RSI and MACD indicators are positive and calm, while CCI is positive and inclining upwards on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.3414 1.3525 1.3665
Technical support levels: 1.3300 1.3213 1.3115
Trading range: 1.3360 – 1.3425
Trend: Upward
Buy at 1.3373 SL 1.3343 TP 1.3413
Written by iFOREX.bg
