EUR/USD Rises After Greek Elections

EUR/USD Open 1.2717 High 1.2748 Low 1.2591 Close 1.2633

On Friday Euro/Dollar increased with almost 80 pips. The European currency appreciated from 1.2591 to 1.2669 on Friday, matching the positive money flow sentiment at almost 19%, closing the week at 1.2633. This morning the Euro pushed up further after the Greek elections, reaching 1.2748.

On the 1 hour chart small upward channel is forming, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and today's top at 1.2748 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.2591, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2477.

There are no major economic events for EU today.

Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.

Technical resistance levels: 1.2748 1.2860 1.2984
Technical support levels: 1.2591 1.2477 1.2355

On Friday we made +13 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:17 GMT+1 Buy EUR/USD at 1.2634 SL 1.2608 TP 1.2684, exit sent 5:30 GMT+1.
Total on Friday +123, as shown at http://www.zifx.com/performance-past.php.