EUR/USD Open 1.4280 High 1.4340 Low 1.4126 Close 1.4173 Now 1.4242

On Friday the Euro/Dollar lifted with over 200 pips, after Sarkozy and Merkel spoke. The European currency appreciated from 1.4126 to 1.4340 on Friday, matching the positive Interbank sentiment projection at almost +9%, closing the week at 1.4308. This morning the European currency is weakening again, but movements are within Friday's range for now. On the 1 hour chart the downward channel is making renewal attempts, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and Friday's top at 1.4340 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.4126, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4010. Today's focus is on Germany PPI and EU17 Current account at 6 and 8 GMT respectively. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and calm, MACD is positive and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4340 1.4452 1.4570
Technical support levels: 1.4126 1.4010 1.3900

Trading range: 1.4245 - 1.4180
Trend: Downward
Sell at 1.4231 SL 1.4261 TP 1.4191

On Friday we made +47 pips profit on EUR/USD from the following signal:
7:52 GMT+1 Sell EUR/USD at 1.4177 SL 1.4203 TP 1.4127, exit sent at 8:58 GMT+1.
Total on Friday +132, as shown in details at http://www.zifx.com/performance.php.

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