EUR/USD Open 1.1390 High 1.1436 Low 1.1338 Close 1.1386
On Friday euro/dollar decreased with almost 100 pips. The European currency depreciated from 1.1436 to 1.1338 last Friday, matching the negative money flow sentiment at nearly -2%, closing the day at 1.1386. This morning the euro is trading quietly, with movements within Friday's range for now.
On the 1-hour chart the upward channel has slowed down, while on the 3-hour chart the upward channel is on hold. Break above the nearest resistance and Friday's top at 1.1436 may trigger further strengthening of the euro. Going below Friday's bottom and first support at 1.1338, however, would confirm continuation of the bearish trend, towards next objective downwards 1.1230.
Quotes are moving just below the 20 and above the 50 EMA on the 1-hour chart, indicating short-term slim bearish and medium-term bullish pressure. The value of the RSI indicator is neutral and declining, MACD is positive and quiet, while CCI has crossed down the 100 line on the 1-hour chart, giving over all light short signals.
Technical resistance levels: 1.1436 1.1542 1.1656
Technical support levels: 1.1338 1.1230 1.1114
On Friday +50 pips gained on EUR/USD from the following signal:
5:30 GMT+1 Buy EUR/USD at 1.1372 SL 1.1346 TP 1.1422, TP reached at 12:26 GMT+1.
Total last Friday +161, as shown at our web site.
Have a great day!
