EUR/USD Open 1.2508 High 1.2638 Low 1.2493 Close 1.2574

On Friday Euro/Dollar increased significantly ahead of Jackson Hole meeting, with 145 pips. The European currency depreciated from 1.2493 to 1.2638 on Friday, matching the positive money flow sentiment at over 24%, closing the week at 1.2574. This morning the Euro is trading quietly, with movements at the upper end of Friday's range for now.

On the 1 hour chart the upward channel is making renewal attempts, while on the 3 hour chart wide range trading has formed. Break above the nearest resistance and Friday's top at 1.2638 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.2493, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2380.

Today's focus is on Italy, France, Germany and EU17 PMI, at 7:45, 7:50, 7:55 and 8 GMT respectively.

Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.2638 1.2750 1.2875
Technical support levels: 1.2493 1.2380 1.2258

On Friday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
9:56 GMT+1 Buy EUR/USD at 1.2540 SL 1.2514 TP 1.2590, TP reached at 11:41 GMT+1.
Total on Friday +170, as shown at