EUR/USD Open 1.3898 High 1.3883 Low 1.3646 Close 1.3796

On Friday Euro/Dollar resumed decreasing with 130 pips. The European currency depreciated from 1.3883 to 1.3753 on Friday, not matching the positive Interbank sentiment projection at over +2%, closing the week at 1.3796. This morning the Euro weakened further against the Dollar, dropping down to 1.3646. On the 1 hour chart the downward channel is making renewal efforts, while on the 3 hour the downward channel is on hold. Break above the nearest resistance and Friday's top at 1.3883 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3646, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3550. There are no major economic events for EU today. Quotes are moving way bellow the crossed because of trend change 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and quiet too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.3883 1.4000 1.4117
Technical support levels: 1.3646 1.3550 1.3429

Trading range: 1.3680 - 1.3605
Trend: Downward
Sell at 1.3666 SL 1.3696 TP 1.3616

On Friday we made +16 pips profit on EUR/USD from the following sent to clients only signal:
5:25 GMT+1 Buy EUR/USD at 1.3860 SL 1.3834 TP 1.3910, exit sent at 6:21 GMT+1.
Total on Friday +95, as shown in details at http://www.zifx.com/performance.php.

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