EUR/USD Open 1.3068 High 1.3201 Low 1.3008 Close 1.3072
On Friday Euro/Dollar decreased significantly with 170 pips. The European currency depreciated from 1.3201 to 1.3067 on Friday, matching the negative Interbank sentiment projection at bellow -10%, closing the week at 1.3072. This morning the Euro weakened further on Spanish debt worries, dropping down to 1.3008. On the 1 hour chart the downward channel has renewed, while on the 3 hour chart quotes are testing the lower limit of the wide trading range. Break above the nearest resistance and Friday's top at 1.3201 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3008, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2890. Today's focus is on EU17 Trade balance at 9 GMT. Quotes are moving bellow the twisted 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.3201 1.3318 1.3444
Technical support levels: 1.3008 1.2890 1.2768
On Friday we made +17 pips profit on EUR/USD from the following sent to clients only signal:
5:20 GMTGMT+1 Buy EUR/USD at 1.3167 SL 1.3141 TP 1.3217, exit sent 8:12 GMTGMT+1.
Total on Friday +86, as shown in details at http://www.zifx.com/performance-past.php.