EUR/USD 1.2920 - 26 July 2010

EUR/USD Open 1.2887 High 1.2962 Low 1.2812 Close 1.2898

On Friday Euro/Dollar traded up and down, as the whole last week, but in narrower range. The European currency depreciated from 1.2962 to 1.2812 on Friday, not exactly matching the neutral Interbank sentiment projection, at around +2%, closing the week at 1.2898. This morning the pair is moving hesitantly for now, with unconvincing push up. On the 1 hour chart the upwards channel is trying to renew, while on the 3 hour quotes within the upward channel. Break above the nearest resistance and Friday's top at 1.2962 may trigger further recovery of the Euro. Going bellow Friday's bottom and first support at 1.2812, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2721. Today's focus is USA New home sales at 14 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.Technical resistance levels: 1.2962 1.3050 1.3144Technical support levels: 1.2812 1.2721 1.2600

Trading range: 1.2910 - 1.2970Trend: UpwardBuy at 1.2920 SL 1.2890 TP 1.2960

On Friday we made +18 pips profit on EUR/USD from the following signal:5:37 GMT+1 Buy EUR/USD at 1.2894 SL 1.2868 TP 1.2944 exit sent 6:19 GMT+1.Total on Friday +91, as shown in details at http://www.zifx.com/performance.php.