EUR/USD Open 1.2678 High 1.2813 Low 1.2665 Close 1.2714

On Friday Euro/Dollar continued decreasing significantly with 120 pips. The European currency depreciated from 1.2813 to 1.2696 on Friday, matching the negative Interbank sentiment projection at bellow -18%, closing the week at 1.2714. This morning the Euro weakened even further, dropping down to 1.2665. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart the downward channel looks good. Break above the nearest resistance and Friday's top at 1.2813 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.2665, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2550. Today's focus is on Germany Current account, Trade balance, and Industrial production, at 7 and 11 GMT respectively. 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 inclining upwards, MACD is negative and quiet too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall all light short signals.
Technical resistance levels: 1.2813 1.2934 1.3050
Technical support levels: 1.2665 1.2550 1.2427

Trading range: 1.2725 - 1.2650
Trend: Downward
Sell at 1.2714 SL 1.2744 TP 1.2664

On Friday we made +13 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Sell EUR/USD at 1.2779 SL 1.2805 TP 1.2729, exit sent at 8:03 GMT+1.
Total on Friday +80, as shown in details at http://www.zifx.com/performance.php.

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