EUR/USD Open 1.2941 High 1.2973 Low 1.2882 Close 1.2934

On Friday Euro/Dollar decreased with 75 pips. The European currency depreciated from 1.2957 to 1.2882 on Friday, matching the negative money flow sentiment at almost -18%, closing the week at 1.2934. This morning the Euro ascended slightly, reaching 1.2973.

On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel is still on hold. Break above the nearest resistance and today's top at 1.2973 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.2882, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2770.

Today's focus is on US Personal income and spending, PCE price index, and Germany CPI and HICP, at 12:30 and 13 GMT respectively.

Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is thinly positive and calm, MACD is positive and declining, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.2973 1.3090 1.3212
Technical support levels: 1.2882 1.2770 1.2646

On Friday we made +9 pips profit/loss on EUR/USD from the following sent to clients only signal:
11:39 GMT Sell EUR/USD at 1.2905 SL 1.2931 TP 1.2855, exit sent at 11:45 GMT.
Total on Friday +76, as shown at our web site.
 

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