EUR/USD Open 1.4289 High 1.4438 Low 1.4053 Close 1.4282

On Friday Euro/Dollar increased significantly with almost 250 pips on continuing US debt woes. The European currency appreciated from 1.4053 to 1.4298 on Friday, matching the positive Interbank sentiment projection at almost +1%, closing the week at 1.4282. This morning the European currency strengthened further on S&P US Downgrade, climbing up to 1.4438. On the 1 hour chart range trading has formed, while on the 3 hour chart trading has moved into a wide range. Break above the nearest resistance and today's top at 1.4438 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.4053, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3940. There are no major economic events for EU today. Quotes are moving above the crossed 20 and 50 EMA on the 1 hour chart, indicating 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 overall long signals.
Technical resistance levels: 1.4438 1.4550 1.4665
Technical support levels: 1.4053 1.3940 1.3822

Trading range: 1.4290 - 1.4365
Trend: Upward
Buy at 1.4303 SL 1.4273 TP 1.4353

On Friday we made +50 pips profit on EUR/USD from the following signal:
6:58 GMT+1 Sell EUR/USD at 1.4126 SL 1.4152 TP 1.4076, TP reached at 7:30 GMT+1.
Total on Friday +133, as shown in details at http://www.zifx.com/performance.php.

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