EUR/USD Open 1.3263 High 1.3276 Low 1.3116 Close 1.3233
The Euro traded hesitantly on Thursday. Euro/Dollar was moving within the 1.3183 – 1.3276 range yesterday, not matching with the Interbank sentiment projection, at around -19%, closing the day at 1.3233. On the 1 hour chart the downward channel remains intact for now, as Spain and Portugal get low economic rating too. Break above the nearest resistance and yesterday’s top at 1.3258 may lead to further recovery of the Euro. Going bellow Wednesday’s bottom and first support at 1.3116, however, should confirm continuation of the bearish trend, towards next target 1.3060. Today’s focus is on Germany Imports at 6, France PPI at 6:45, Italy PPI and CPI and 8 and 9, and EU 16 Harmonized CPI and Unemployment at 9 GMT respectively. Quotes are moving just above the the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, while MACD and CCI are positive and calm on the 1 hour chart, giving overall light bullish signals.
Technical resistance levels: 1.3276 1.3330 1.3443
Technical support levels: 1.3116 1.3060 1.2971
Trading range: 1.3270 – 1.3205
Trend: Downward
Sell at 1.3256 SL 1.3286 TP 1.3216
Written by iFOREX.bg
