On Friday, the EUR?USD increased by 90 pips. The European currency appreciated from 1.2903 to 1.2994 on Friday, matching the positive money flow sentiment at over +12% and closing the week at 1.2927. The euro is trading quietly this morning, with movements at the lower end of Friday's range for now.
The downward channel is still on hold 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 1.2994 may trigger further strengthening of the euro. Going below Friday's bottom and first support at 1.2903, however, would confirm continuation of the bearish trend towards the next objective downwards of 1.2790.
Today marks USA Memorial Day.
Quotes are moving just above the 20 and below the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is neutral and calm. The MACD is thinly positive and quiet, whilethe CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.2994 1.3110 1.3233
Technical support levels: 1.2903 1.2790 1.2868
On Friday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:14 GMT+1 Buy EUR/USD at 1.2917 SL 1.2891 TP 1.2967, TP reached at 9:20 GMT+1.
Total on Friday +206, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">