EUR/USD Sharply Higher After ECB

EUR/USD Open 1.2796 High 1.2819 Low 1.2625 Close 1.2813

On Friday Euro/Dollar increased significantly with almost 200 pips as after ECB effect. The European currency appreciated from 1.2625 to 1.2819 on Friday, not matching the positive money flow sentiment at above 17%, closing the week at 1.2629. This morning the Euro is trading quietly, with movements at the upper end of Friday's range for now.

On the 1 hour chart the upward channel has convincingly resumed, while on the 3 hour chart quotes broke up of the wide range. Break above the nearest resistance and Friday's top at 1.2819 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.2625, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2510.

Today's focus is on France Industrial production, Italy GDP, and USA Consumer credit, at 6:45, 9 and 19 GMT respectively.

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 calm, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.

Technical resistance levels: 1.2819 1.2933 1.3060
Technical support levels: 1.2625 1.2510 1.2386

On Friday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.2633 SL 1.2607 TP 1.2683, TP reached at 8:44 GMT+1.
Total on Friday +129, as shown at http://www.zifx.com/performance-past.php.