EUR/USD 1.2835 – 17 August 2010
EUR/USD Open 1.2812 High 1.2865 Low 1.2735 Close 1.2825On Monday the Euro/Dollar started to rise. The European currency appreciated from 1.2735 to 1.2865 yesterday, matching the positive Interbank sentiment projection, at nearly +2%, closing the day at 1.2825. This morning the bulls are trying to push further up. On the 1 hour chart new downward channel was broken upwards, while on the 3 hour chart the downward channel is on hold. Break above the nearest resistance and yesterday’s top at 1.2865 may trigger further recovery of the Euro. Going bellow yesterday’s bottom and first support at 1.2735, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2640. Today’s focus is on EU 16 Current account and Germany ZEW economic expectations index at 8 and 9 GMT respectively. Read more…