EUR/USD Open 1.3307 High 1.3344 Low 1.3211 Close 1.3237
On Friday Euro/Dollar continued decreasing with 130 pips. The European currency depreciated from 1.3340 to 1.3211 on Friday, matching the negative Interbank sentiment projection at nearly -6%, closing the week at 1.3237. This morning the Euro corrected upward, climbing to 1.3344. On the 1 hour chart the downward channel looks good, while on the 3 hour chart quotes are testing the lower limit of the wide trading range. Break above the nearest resistance and today's top at 1.3344 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.3211, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3100. Today's focus is on EU17 M3 money supply, Italy Business confidence, and Germany CPI and HICP, at 9 and 13 GMT respectively. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is negative and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all neutral signals.
Technical resistance levels: 1.3344 1.3460 1.3584
Technical support levels: 1.3211 1.3100 1.2979
Trading range: 1.3310 - 1.3235
Sell at 1.3297 SL 1.3327 TP 1.3247
On Friday we made +18 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Sell EUR/USD at 1.3312 SL 1.3338 TP 1.3262, TP reached at 9:08 GMT+1.
Total on Friday +176, as shown in details at http://www.zifx.com/performance.php.