EUR/USD Open 1.2934 High 1.2989 Low 1.2907 Close 1.2933

On Monday Euro/Dollar traded quietly within narrow 60 pip range. The European currency first depreciated to 1.2907, than climbed up to 1.2971, matching the morning negative Interbank sentiment projection at bellow -9%, closing the day at 1.2933. This morning the Euro ascended, climbing to 1.2989. On the 1 hour chart new range trading is forming, while on the 3 hour chart the downward channel looks good. Break above the nearest resistance and today's top at 1.2989 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2907, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2800. Today's focus is on Germany Unemployment at 8:55 GMT. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is thinly positive and calm, MACD is neutral and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all neutral to light long signals.
Technical resistance levels: 1.2989 1.3100 1.3217
Technical support levels: 1.2907 1.2800 1.2679

Trading range: 1.2990 - 1.2930
Trend: Downward
Sell at 1.2980 SL 1.3010 TP 1.2940

On Friday we made +9 pips profit on EUR/USD from the following sent to clients only signal:
5:20 GMT Sell EUR/USD at 1.2938 SL 1.2964 TP 1.2888, exit sent at 5:28 GMT+1.
Total on Friday +106, as shown in details at http://www.zifx.com/performance.php.

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