EUR/USD Open 1.2821 High 1.2947 Low 1.2913 Close 1.2835

On Friday Euro/Dollar decreased with 125 pips. The European currency appreciated from 1.2947 to 1.2820 on Friday, matching the negative money flow sentiment at bellow -21%, closing the week at 1.2835. This morning the Euro extended losses even further, reaching down to 1.2913.

On the 1 hour chart quotes are testing the lower limit of the trading range, while on the 3 hour chart the upward channel is still on hold. Break above the nearest resistance and Friday's top at 1.2947 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.2913, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2700.
Today's focus is on USA ISM Non manufacturing PMI and business index, both at 15 GMT respectively.

Quotes are moving bellow the close 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 over all short signals.
Technical resistance levels: 1.2947 1.3060 1.3182
Technical support levels: 1.2813 1.2700 1.2578

On Friday we made +44 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:45 GMT Sell EUR/USD at 1.2906 SL 1.2932 TP 1.2856, exit sent at 12:33 GMT.
Total on Friday +125, as shown at our web site.


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