On Friday Euro/Dollar traded within 125 pip range. The European currency appreciated from 1.3585 to 1.3711 on Friday, matching the positive money flow sentiment at bellow +21%, closing the week at 1.3638. This morning the Euro is trading quietly, with movements within Friday's range for now.
On the 1 hour chart the upward channel looks good, while on the 3 hour chart the upward channel is intact. Break above the nearest resistance and Friday's top at 1.3711 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.3585, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3470.
Today's focus is on EU17 PPI and US Factory orders, at 10 and 15 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, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3711 1.3824 1.3950
Technical support levels: 1.3585 1.3470 1.3346
On Friday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT Buy EUR/USD at 1.3622 SL 1.3596 TP 1.3672, TP reached at 9:57 GMT.
Total on Friday +156.
EUR/USD Chart" title="EUR/USD Chart">