EUR/USD Sinks On Greek Credit Event

By @ibtimes on

EUR/USD Open 1.3117 High 1.3272 Low 1.3084 Close 1.3118

On Friday Euro/Dollar decreased significantly with 180 pips. The European currency depreciated from 1.3272 to 1.3095 on Friday after the Greec credit event, matching the positive Interbank sentiment projection at over +6%, closing the week at 1.3118. This morning the Euro weakened further, reaching 1.3084. On the 1 hour chart new downward channel has formed, while on the 3 hour chart the upward channel is on hold. Break above the nearest resistance and Friday's top at 1.3272 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3084, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2970. Today's focus is on Germany Wholesale prices and Italy GDP, at 7 and 9 GMT respectively. Quotes are moving bellow the twisted 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 negative and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.3272 1.3400 1.3524
Technical support levels: 1.3084 1.2970 1.2848
On Friday we made +30 pips profit on EUR/USD from the following sent to clients only signal:
6:02 GMT Sell EUR/USD at 1.3251 SL 1.3277 TP 1.3201, exit sent 7:50 GMT+1.
Total on Friday +104, as shown in details at http://www.zifx.com/performance-past.php.

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