EUR/USD Open 1.3035 High 1.3084 Low 1.2982 Close 1.3038

On Friday Euro/Dollar traded within 90 pip range. The European currency depreciated from 1.3084 to 1.2994 on Friday, matching the negative Interbank sentiment projection at nearly -9%, closing the week at 1.3038. This morning the Euro weakened slightly further, dropping to 1.2982. On the 1 hour chart the downward channel has slowed down, while on the 3 hour the new downward channel looks good. Break above the nearest resistance and Friday's top at 1.3084 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.2982, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2860. Today's focus is on EU17 Current account at 9 GMT. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall all neutral to light short signals.
Technical resistance levels: 1.3084 1.3200 1.3421
Technical support levels: 1.2982 1.2860 1.2733

Trading range: 1.3020 - 1.2945
Trend: Downward
Sell at 1.3008 SL 1.3038 TP 1.2958

On Friday we made +27 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Sell EUR/USD at 1.3031 SL 1.3057 TP 1.2981, exit sent at 8:01 GMT+1.
Total on Friday +107, as shown in details at http://www.zifx.com/performance.php.

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