EUR/USD 1.3671 - 8 March 2010
Euro/Dollar depreciated first on Friday ahead of the US Nonfarm payrolls, the Unemployment report and ECB announcement to keep interest rates low. The currency couple tested the lower 1.3545 level after the positive job figures, from where it started rising up to 1.3624, closing the week at 1.3620. On the 3 hour chart downtrend has lost strength and on the 1 hour we see range trading, which gives us uncertain medium term direction. Going bellow the 1.3545 support may trigger stronger bearish impulse towards next target 1.3468. The nearest resistance is last Wednesday's top at 1.3745. Today's data is Germany industrial production at 11:00. Quotes are moving above the 50 and 20 EMA on the 1 hour chart, indicating bullish pressure. The value of RSI indicator is positive and rising, MACD is positive and calm, while CCI is about to cross down the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.3745 1.3813 1.4000
Technical support levels: 1.3545 1.3468 1.3370
On Friday we made +24 pips profit on EUR/USD from the following signal:
5:31 GMT Sell EUR/USD at 1.3592 SL 1.3618 TP 1.3542 exit sent 6:22 GMT
Total on Friday +83, as shown in details at www.zifx.com/performance.php.