EUR/USD Open 1.3359 High 1.3466 Low 1.3247 Close 1.3356
On Friday Euro/Dollar failed to keep the bullish momentum. Despite the bad news about unemployment in the U.S. Dollar strengthened against the Euro. On a daily basis a second descending triangle is formed with minimum target 1.3020. Yesterday's bottom was 1.3296, and closing price 1.3356. Today began with a test at lower levels. For the moment levels around 1.3235 are seen as support for the currency couple. If broken, next potential support can be expected to be reached the around 1.3080. Candles on the four hour chart show wavering movement, but the week is still in the beginning. This week's movements will be driven by data on retail and inflation indices (PPI, CPI) in the USA. The CCI indicator crosses down the 100 line on the daily chart indicating downward direction pressure.
Technical resistance levels: 1.3375 1.3445 1.3560
Technical support levels: 1.3235 1.3080 1.3000
Trading range: 1.3295 - 1.3230
Sell at 1.3282 SL 1.3312 TP 1.3242