EUR/USD Open 1.3541 High 1.3591 Low 1.3390 Close 1.3490

On Friday Euro/Dollar traded within 150 pip range. The European currency depreciated from 1.3567 to 1.3418 on Friday, not matching the positive Interbank sentiment projection at almost +3%, closing the week at 1.3490. This morning the Euro jumped at first to 1.3591, than sharply dropped down to 1.3389. On the 1 hour chart the downward channel has resumed, while on the 3 hour the downward channel is also making renewal attempts. Break above the nearest resistance and today's top at 1.3591 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3390, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3273. Today's focus is on Italy Consumer confidence, Germany IFO business climate index, and France Unemployment, at 8 and 16 GMT respectively. Quotes are moving bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is thinly negative and calm, MACD is negative and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.3591 1.3708 1.3830
Technical support levels: 1.3390 1.3273 1.3150

Trading range: 1.3430 - 1.3360
Trend: Downward
Sell at 1.3420 SL 1.3450 TP 1.3370

On Friday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:29 GMT+1 Sell EUR/USD at 1.3526 SL 1.3552 TP 1.3476, TP reached at 6:52 GMT+1.
Total on Friday +126, as shown in details at http://www.zifx.com/performance.php.

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