EUR/USD Open 1.3158 High 1.3194 Low 1.3070 Close 1.3149

On Wednesday Euro/Dollar increased with 120 pips. The European currency appreciated from 1.3070 to 1.3194 yesterday, matching the positive money flow sentiment at above +21%, closing the day at 1.3149. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now.

On the 1 hour chart quotes are back into the range trading, while on the 3 hour chart the downward channel has turned into wide trading scope. Break above the nearest resistance and yesterday's top at 1.3194 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3070, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2956.

Today's focus is on ECB Monthly Report, and U.S. Jobless claims and Wholesale inventories, at 8, 12:30 and 14 GMT respectively.

Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI is in line with the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.3194 1.3310 1.3433
Technical support levels: 1.3070 1.2956 1.2832