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Daily Forex Technicals |
Written by ZIFX.com |
Jan 27 12 05:58 GMT
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EUR/USD Lifted By Fed's Pledge
EUR/USD Open 1.3085 High 1.3184 Low 1.3076 Close 1.3106
On Thursday Euro/Dollar increased with 95 pips, but lost all gains in the afternoon. The European currency appreciated from 1.3089 to 1.3184 yesterday, matching the positive Interbank sentiment projection at over +15%, closing the day at 1.3106. This morning the Euro weakened slightly, dropping down to 1.3076. On the 1 hour chart the upward channel looks good, while on the 3 hour chart new upward channel is emerging. Break above the nearest resistance and yesterday's top at 1.3184 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3076, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2955. Today's focus is on Germany Import prices and EU17 M3 money supply, at 7 and 9 GMT respectively. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and mediun term bullish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall all neutral signals.
Technical resistance levels: 1.3184 1.3300 1.3423
Technical support levels: 1.3076 1.2955 1.2830
Trading range: 1.2990 - 1.3160
Trend: Upward
Buy at 1.3100 SL 1.2970 TP 1.3150
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