EUR/USD Open 1.3600 High 1.3938 Low 1.3553 Close 1.3643

On Friday Euro/Dollar continued decreasing sharply with over 300 pips. The European currency depreciated from 1.3938 to 1.3624 on Friday, matching the negative Interbank sentiment projection at under -2%, closing the week at 1.3643. This morning the Euro descended even further against the Dollar, dropping down to 1.3553. On the 1 hour chart the downward channel is intact, while on the 3 hour the new downward channel also looks good. Break above the nearest resistance and Friday's top at 1.3938 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3553, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3440. Today's focus is on Italy Industrial production at 8 GMT. Quotes are moving bellow the crossed 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 too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.3938 1.4050 1.4168
Technical support levels: 1.3553 1.3440 1.3319

Trading range: 1.3585 - 1.3515
Trend: Downward
Sell at 1.3575 SL 1.3605 TP 1.3525

On Friday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:27 GMT+1 Sell EUR/USD at 1.3909 SL 1.3935 TP 1.3859, TP reached at 9:09 GMT+1.
Total on Friday +137, as shown in details