On Friday, the EUR/USD decreased with 105 pips. The European currency depreciated from 1.3049 to 1.2943 on Friday, matching the negative money flow sentiment at around -9%, closing the week at 1.2993. The euro is trading quietly this morning, with movements within Friday's range for now.
The downward channel has turned into range trading on the 1 hour chart, while quotes are held within wide trading range on the 3 hour chart. A break above the nearest resistance and Friday's top at 1.3049 may trigger further strengthening of the euro. Going below Friday's bottom and first support at 1.2943, however, would confirm continuation of the bearish trend, towards the next objective downwards of 1.2827.
Today's data focus is on Italy, France, Germany, and EMU PMI, and U.S. ISM Manufacturing PMI and Construction spending, at 7:45, 7:50, 7:55, 8, and 14 GMT respectively.
Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm. The MACD is positive and quiet too. The CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.3049 1.3164 1.3290
Technical support levels: 1.2943 1.2827 1.2700
On Friday we made +11 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3036 SL 1.3010 TP 1.3086, exit sent at 7:46 GMT+1.
Total on Friday +125, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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EUR/USD Heads Up On Mixed Chinese Data
Published 06/03/2013, 12:33 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Heads Up On Mixed Chinese Data
EUR/USD Open 1.2990 High 1.3049 Low 1.2943 Close 1.2993
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