EUR/USD 1.1918 - 7 June 2010

EUR/USD Open 1.1886 High 1.2210 Low 1.1878 Close 1.1968

On Friday Euro/Dollar traded with a slight increase at first, later in the day collapsed under 1.2 on Hungary issues and good US payrolls data. Euro/Dollar depreciated from 1.2210 to 1.1957 on Friday, in line with the Interbank sentiment projection, at nearly -16%, closing the week at 1.1968. On the 3 hour chart the Euro the downward channel was renewed. Break above the nearest resistance and Friday's level at 1.1980 may trigger further recovery of the Euro. Going bellow this morning's bottom and first support at 1.1878, however, would confirm continuation of the bearish trend, towards next objective downwards 1.1790. Today's focus is on Germany Manufacturing orders at 10 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and rising, MACD is negative and calm, while CCI has crossed down the 100 line and is quiet on the 1 hour chart, giving overall light short signals.Technical resistance levels: 1. 1980 1.2070 1.2210Technical support levels: 1.1878 1.1790 1.1700

Trading range: 1.1930 - 1.1865Trend: DownwardSell at 1.1918 SL 1.1948 TP 1.1878

On Friday we made +13 pips profit on EUR/USD from the following signal:5:32 GMT+1 Buy EUR/USD at 1.2178 SL 1.2152 TP 1.2228 exit at 7:26 GMT+1.Total on Friday +78, as shown in details at