EUR/USD Open 1.4136 High 1.4202 Low 1.3985 Close 1.4144

On Friday Euro/Dollar traded within 70 pip range. The European currency depreciated from 1.4202 to 1.4132 on Friday, not matching the positive Interbank sentiment projection at over +11%, closing the week at 1.4144. This morning the Euro sunk, dropping down to 1.3985. On the 1 hour chart quotes are testing the lower limit of the upward channel, while on the 3 hour chart the upward channel has slowed down. Break above the nearest resistance and Friday's top at 1.4202 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3985, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3863. Today's focus is on Germany Retail sales, France PPI, EU17 Harmonized CPI and Unemployment, and Italy CPI, HICP and PPI, at 7, 7:45, 10 and 11 GMT respectively. Quotes are moving bellow the close 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is neutral and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall all short signals.
Technical resistance levels: 1.4202 1.4320 1.4443
Technical support levels: 1.3985 1.3863 1.3747

Trading range: 1.4030 - 1.3955
Trend: Downward
Sell at 1.4018 SL 1.4048 TP 1.3968

On Friday we made +29 pips profit on EUR/USD from the following sent to clients only signal:
5:25 GMT+1 Buy EUR/USD at 1.4169 SL 1.4143 TP 1.4219, exit sent at 9:20 GMT+1.
Total on Friday +90, as shown in details at http://www.zifx.com/performance.php.

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