EUR/USD Open 1.4200 High 1.4369 Low 1.4182 Close 1.4250
On Friday the Euro/Dollar continued decreasing, even after the jump on US bad jobs NFP data, with 165 pips. The European currency appreciated from 1.4369 to 1.4203 on Friday, not matching the positive Interbank sentiment projection at nearly +2%, closing the week at 1.4250. This morning the European is down again as debt issue was brought up, dropping down to 1.4182. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and Friday's top at 1.4369 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.4182, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4070. Today's focus is on France Industrial production at 6:45 GMT. 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 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: 1.4369 1.4482 1.4600
Technical support levels: 1.4182 1.4070 1.3954
Trading range: 1.4205 - 1.4130
Sell at 1.4192 SL 1.4222 TP 1.4142
On Friday we made +6 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Sell EUR/USD at 1.4340 SL 1.4366 TP 1.4290, exit sent at 5:33 GMT+1.
Total on Friday +134, as shown in details at http://www.zifx.com/performance.php.