EUR/USD Off Peak On Greek Issue Waiting

By @ibtimes on

EUR/USD Open 1.3205 High 1.3239 Low 1.3076 Close 1.3214

On Friday Euro/Dollar renewed increasing significantly with 165 pips. The European currency appreciated from 1.3076 to 1.3239 on Friday, matching the positive Interbank sentiment projection at over +6%, closing the week at 1.3214. This morning the Euro weakened slightly, but movements are still within Friday's range for now. On the 1 hour chart the upward channel looks good, while on the 3 hour chart new upward channel has emerged. Break above the nearest resistance and Friday's top at 1.3239 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.3076, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2955. Today's focus is on Italy Business confidence, EU17 Economic sentiment and Business climate indicator, and Germany CPI and HICP, at 9, 10 and 13 GMT respectively. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all light long signals.
Technical resistance levels: 1.3239 1.3357 1.3484
Technical support levels: 1.3076 1.2955 1.2830

Trading range: 1.3190 - 1.3120
Trend: Downward
Sell at 1.3180 SL 1.3210 TP 1.3130

On Friday we made +48 pips profit on EUR/USD from the following sent to clients only signal:
5:21 GMT Buy EUR/USD at 1.3104 SL 1.3078 TP 1.3154, exit sent at 10:08 GMT+1.
Total on Friday +135, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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