EUR/USD Open 1.4362 High 1.4374 Low 1.4219 Close 1.4356

On Thursday the Euro/Dollar continued decreasing, even after ECB conference, later jumped with 155 pips. The European currency appreciated from 1.4219 to 1.4374 yesterday, matching the positive Interbank sentiment projection at nearly +3%, closing the day at 1.4356. This morning the European is trading quietly and within yesterday's range for now. On the 1 hour chart new range trading has emerged, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and yesterday's top at 1.4374 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4219, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4111. Today's focus is on Germany Current account and Trade balance, and Italy Industrial production, at 6 and 8 GMT respectively. Quotes are moving about in line with the crossing 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is negative and declining, MACD is neutral and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4374 1.4482 1.4600
Technical support levels: 1.4219 1.4111 1.4000

Forex: EUR/USD moving towards 1.4300

Pronounced downward pressure on the EUR/USD continues ahead of the US session, with the pair extending to a week-long low of 1.4316 as it appears to target the technical support level of 1.4300. Overall the pair is off around 100 pips from the day´s opening price, and around 150 from a daily high of 1.4465. Giving a more technical perspective, 4 hours chart shows the bearish momentum increasing with current candle opening below 200 EMA, and both indicators heading south; smaller time frames show extreme oversold conditions suggesting some consolidation before further slides: expect the pair to remain trading below 1.4390 price zone, while a downside acceleration and a break below 1.4315, should trigger a continuation rally towards 1.4250 strong support zone, probable bottom for today. 

Forex: EUR/USD consolidates near session lows

The hegemonic currency lost ground against the Greenback on Tuesday, extending its retreat from a 1-month high struck on Monday at 1.4576 on widespread Dollar strength amid risk aversion. However, after the Asian session 90-pip slide, EUR/USD bottomed out at 1.4459 and has spent the last trading hours consolidating in a tight range right above that level. At time of writing, EUR/USD is trading at the 1.4470 area, where it records a 0.46% loss on the day. The EUR is falling against the USD for first time in 7 days. Technical studies show that supports are seen at 1.4449 and then at 1.4405 which is the 55DMA, followed by the 10DMA line at 1.4364. On the other hand, resistance levels are seen at 1.4564, 1.4655 and then at the 21Day Upper Bollinger Level at 1.4693.