EUR/USD Continues Decreasing as Greek Worries Persist

By @ibtimes on

EUR/USD Open 1.4171 High 1.4307 Low 1.4101 Close 1.4182

On Friday the Euro/Dollar continued weakening as Greek worries persist, decreasing with 165 pips. The European currency depreciated from 1.4307 to 1.4140 on Friday, matching the negative Interbank sentiment projection at bellow -1%, closing the week at 1.4182. This morning the European currency descended even further, dropping down to 1.4101. 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 1.4307 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.4101, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.3988. There are no major economic events for EU today. Quotes are moving bellow 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.4307 1.4420 1.4536
Technical support levels: 1.4101 1.3988 1.3870

Trading range: 1.4140 - 1.4065
Trend: Downward
Sell at 1.4127 SL 1.4157 TP 1.4077

On Friday we made +50 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Sell EUR/USD at 1.4264 SL 1.4290 TP 1.4214, TP reached at 8:23 GMT+1.
Total on Friday +130, as shown in details here.

ZIFX.com

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