EUR/USD Open 1.3780 High 1.3818 Low 1.3576 Close 1.3746
On Friday Euro/Dollar increased significantly with 220 pips on the Berlusconi resignation news. The European currency appreciated from 1.3576 to 1.3795 on Friday, matching the positive Interbank sentiment projection at over +3%, closing the week at 1.3746. This morning the Euro ascended even further, climbing up to 1.3818. On the 1 hour chart range trading is emerging, while on the 3 hour chart wide range trading has formed. Break above the nearest resistance and today's top at 1.3818 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.3576, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3460. Today's focus is on EU17 Industrial production at 10 GMT. 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 thinly crossed up the 100 line on the 1 hour chart, giving overall all light long signals.
Technical resistance levels: 1.3818 1.3933 1.4060
Technical support levels: 1.3576 1.3460 1.3338
Trading range: 1.3740 - 1.3815
Buy at 1.3753 SL 1.3723 TP 1.3803
On Friday we made +23 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Sell EUR/USD at 1.3625 SL 1.3651 TP 1.3575, exit sent at 8:06 GMT+1.
Total on Friday +106, as shown in details at http://www.zifx.com/performance.php.