EUR/USD Open 1.3123 High 1.3207 Low 1.3065 Close 1.3111

On Friday Euro/Dollar traded within 140 pip range. The European currency depreciated from 1.3207 to 1.3065 on Friday, not matching the positive Interbank sentiment projection at over +5%, closing the week at 1.3111. This morning the Euro is showing weakness, moving at the lower end of Friday's range for now. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart range trading has formed. Break above the nearest resistance and Friday's top at 1.3207 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.3065, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2950. Today's focus is on Germany Manufacturing orders, at 11 GMT. 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 negative and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall all light short signals.
Technical resistance levels: 1.3207 1.3320 1.3453
Technical support levels: 1.3065 1.2950 1.2827

Trading range: 1.3070 - 1.3145
Trend: Upward
Buy at 1.3082 SL 1.3052 TP 1.3132

On Friday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:17 GMT Buy EUR/USD at 1.3131 SL 1.3105 TP 1.3181, TP reached at 10:20:31 GMT+1.
Total on Friday +142, as shown in details at http://www.zifx.com/performance.php.

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