EUR/USD Open 1.3357 High 1.3602 Low 1.3312 Close 1.3381

On Friday Euro/Dollar decreased significantly with 220 pips on Greece admitting inability to meet targets. The European currency depreciated from 1.3602 to 1.3379 on Friday, matching the negative Interbank sentiment projection at nearly -1%, closing the week at 1.3381. This morning the Euro descended further, dropping down to 1.3312. On the 1 hour chart the downward channel has resumed, while on the 3 hour chart the downward channel is also renewed. Break above the nearest resistance and Friday's top at 1.3602 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3312, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3200. Today's focus is on Italy, France, Germany and EU17 PMI at 7:45, 7:50, 7:55 and 8 GMT respectively. 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 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: 1.3602 1.3720 1.3844
Technical support levels: 1.3312 1.3200 1.3077

Trading range: 1.3345 - 1.3270
Trend: Downward
Sell at 1.3333 SL 1.3363 TP 1.3283

On Friday we made +34 pips profit on EUR/USD from the following sent to clients only signal:
5:25 GMT+1 Buy EUR/USD at 1.3530 SL 1.3504 TP 1.3580, exit sent at 6:47 GMT+1.
Total on Friday +114, as shown in details at http://www.zifx.com/performance.php.

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