EUR/USD Open 1.3844 High 1.3907 Low 1.3703 Close 1.3890
On Friday Euro/Dollar increased significantly with 200 pips, ahead of EU summit. The European currency appreciated from 1.3703 to 1.3907 on Friday, matching the positive Interbank sentiment projection at over +10%, closing the week at 1.3890. This morning the Euro is pushing up again, but movements are still limited by Friday's resistance for now. On the 1 hour chart the upward channel is making renewal attempts, while on the 3 hour chart range trading has formed. Break above the nearest resistance and Friday's top at 1.3907 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.3703, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3590. Today's focus is on France, Germany and EU17 PMI, and EU17 Industrial orders, at 7, 7:30, 8 and 9 GMT respectively. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall all long signals.
Technical resistance levels: 1.3907 1.4020 1.4142
Technical support levels: 1.3703 1.3590 1.3451
Trading range: 1.3870 - 1.3940
Buy at 1.3880 SL 1.3850 TP 1.3930
On Friday we made +30 pips profit on EUR/USD from the following sent to clients only signal:
5:25 GMT+1 Buy EUR/USD at 1.3778 SL 1.3752 TP 1.3828, exit sent at 6:43 GMT+1.
Total on Friday +133, as shown in details at http://www.zifx.com/performance.php.