On Friday Euro/Dollar decreased with 90 pips. The European currency appreciated from 1.2889 to 1.2795 on Friday, matching the negative money flow sentiment at bellow -18%, closing the week at 1.2836. This morning the Euro is trading quietly, with movements at the lower half of Friday's range for now.
On the 1 hour chart new downward channel has formed, while on the 3 hour chart quotes are still held within the wide trading scope. Break above the nearest resistance and Friday's top at 1.2889 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.2795, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2680.
Today's focus is on USA Chicago Fed National Activity Index at 12:30 GMT respectively.
Quotes are moving above the 20 and below the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is neutral and inclining upwards, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.2889 1.3000 1.3124
Technical support levels: 1.2795 1.2680 1.2553
On Friday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
8:53 GMT+1 Sell EUR/USD at 1.2883 SL 1.2909 TP 1.2833, TP reached at 13:26 GMT+1.
Total on Friday +156, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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EUR/USD Renews Downtrend, Reaching 1.28
Published 05/20/2013, 12:29 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Renews Downtrend, Reaching 1.28
EUR/USD Open 1.2827 High 1.2889 Low 1.2795 Close 1.2836
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