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Daily Forex Technicals |
Written by ZIFX.com |
Feb 22 12 06:36 GMT
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EUR/USD Within 110 Pip Range After Greek Deal
EUR/USD Open 1.3244 High 1.3294 Low 1.3186 Close 1.3231
On Tuesday Euro/Dollar traded within 110 pip range. The European currency appreciated from 1.3186 to 1.3294 yesterday, matching the positive Interbank sentiment projection at over +15%, closing the day at 1.3231. This morning the Euro is trading quietly, with movements within yesterday's range for now. On the 1 hour chart quotes are still holding within the trading range, while on the 3 hour chart the upward channel is trying to renew. Break above the nearest resistance and yesterday's top at 1.3294 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3186, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3070. Today's focus is on France CPI, HICP and PMI, Germany and EU17 PMI, Italy CPI and HICP, and EU17 Industrial orders, at 6:30, 8:30, 9 and 10 GMT respectively. Quotes are moving just bellow the even and crossing 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall all neutral to light short signals.
Technical resistance levels: 1.3294 1.3410 1.3533
Technical support levels: 1.3186 1.3070 1.2944
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