EUR/USD Drops After ECB, U.S. Jobs On Focus

On Thursday Euro/Dollar decreased significantly with 180 pips after ECB. The European currency depreciated from 1.3219 to 1.3036 yesterday, matching the negative money flow sentiment at bellow -17%, closing the day at 1.3063. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.

On the 1 hour chart quotes are back into the range trading, while on the 3 hour chart the downward channel has turned into trading scope. Break above the nearest resistance and yesterday's top at 1.3219 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3036, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2922.

Today's focus is on EMU PPI, U.S. Nonfarm payrolls, Unemployment rate, Average earnings and workweek, ISM Non Manufacturing PMI and business index, and Factory orders, at 9,, 12:30 and 14 GMT respectively.

Quotes are moving bellow the crossing 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive and declining, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.3219 1.3334 1.3460
Technical support levels: 1.3036 1.2922 1.2800

Yesterday we made +13 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3167 SL 1.3141 TP 1.3217, exit sent at 7:05 GMT+1.
Total yesterday +81, as shown at our web site.


EUR/USD Chart" title="EUR/USD Chart">

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