EUR/USD Open 1.2719 High 1.2790 Low 1.2689 Close 1.2711

On Friday Euro/Dollar continued decreasing with 100 pips. The European currency depreciated from 1.2790 to 1.2689 on Friday, matching the negative money flow sentiment at bellow -23%, closing the week at 1.2711. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.

On the 1 hour chart new downward channel has formed, while on the 3 hour chart the upward channel is turning into range trading. Break above the nearest resistance and Friday's top at 1.2790 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.2689, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2576.

Today's focus is on Germany Wholesale prices at 7 GMT.

Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.2790 1.2900 1.3021
Technical support levels: 1.2689 1.2576 1.2450

On Friday we made +32 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:16 GMT Sell EUR/USD at 1.2775 SL 1.2801 TP 1.2725, exit sent at 8:11 GMT.
Total on Friday +181, as shown at our web site.


 

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