On Friday, the EUR/USD traded within 125 pip range. The European currency appreciated from 1.3032 to 1.3160 on Friday, matching the positive money flow sentiment at nearly +14%, closing the week at 1.3112. The Euro is trading quietly this morning, with movements at the upper half of Friday's range for now.
On the 1 hour chart, quotes are back into the range trading, while the downward channel has turned into wide trading scope on the 3 hour chart. Breaking above the nearest resistance and Friday's top at 1.3160 may trigger further strengthening of the euro. Going below Friday's bottom and first support at 1.3032, however, would confirm continuation of the bearish trend, towards the next objective downwards of 1.2920.
Today's data focus is on Italy, France, and Germany PMI, EMU PMI and Retail sales, and ECB President Draghi's Speech, at 7:45, 7:50, 7:55, 8, 9 and 13 GMT respectively.
Quotes are moving just above the nearly even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm and the MACD is negative and quiet. The CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.3160 1.3274 1.3400
Technical support levels: 1.3032 1.2920 1.2800
On Friday we made +41 pips profit/loss on EUR/USD from the following sent to clients only signal:
7:42 GMT+1 Buy EUR/USD at 1.3095 SL 1.3069 TP 1.3145, exit sent at 10:08 GMT+1.
Total on Friday +149, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">