EUR/USD Open 1.4156 High 1.4288 Low 1.4135 Close 1.4200
On Friday Euro/Dollar continued decreasing with 100 pips. The European currency depreciated from 1.4288 to 1.4183 on Friday, not matching the positive Interbank sentiment projection at under +1%, closing the week at 1.4200. This morning the Euro descended further against the Dollar, dropping down to 1.4135. On the 1 hour chart range new downward channel has emerged, while on the 3 hour chart trading is within wide range. Break above the nearest resistance and Friday's top at 1.4288 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.4135, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4014. Today's focus is on Italy, France, Germany and EU17 PMI, and EU17 Retail sales, at 7:45, 7:50, 7:55, 8 and 9 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4288 1.4400 1.4521
Technical support levels: 1.4135 1.4014 1.3900
Trading range: 1.4180 - 1.4105
Sell at 1.4168 SL 1.4198 TP 1.4118
On Friday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:26 GMT+1 Sell EUR/USD at 1.4265 SL 1.4291 TP 1.4215, TP reached at 8:13 GMT+1.
Total on Friday +124, as shown in details at http://www.zifx.com/performance.php.