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Technical Analysis Daily: EUR/USD |
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Technical Archives |
Written by ZIFX.com |
Sep 09 10 05:00 GMT
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Technical Analysis Daily: EUR/USD
EUR/USD 1.2717
EUR/USD Open 1.2730 High 1.2757 Low 1.2665 Close 1.2719
On Wednesday the Euro/Dollar traded within nearly 100 pips range. The European appreciated from 1.2665 to 1.2757 yesterday, matching the positive Interbank sentiment projection, at around +6%, closing the day at 1.2719. This morning trading is neutral for now. On the 1 hour chart trading is still within wide range, and on the 3 hour chart range trading is also formed. Break above the nearest resistance and yesterday's top at 1.2757 may trigger further recovery of the Euro. Going bellow yesterday's bottom and first support at 1.2665, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2577. Today's focus is on Germany CPI and HICP at 6 GMT. Quotes are moving just bellow the 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 crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.2757 1.2868 1.2980
Technical support levels: 1.2665 1.2577 1.2473
Trading range: 1.2730 - 1.2665
Trend: Downward
Sell at 1.2717 SL 1.2747 TP 1.2677
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