ZIFX.com EUR/USD Stops Declining Above 1.3

EUR/USD Open 1.3026 High 1.3078 Low 1.3012 Close 1.3021

On Friday Euro/Dollar continued decreasing with 65 pips. The European currency depreciated from 1.3078 to 1.3012 on Friday, matching the negative money flow sentiment at bellow -9%, closing the week at 1.3021. This morning the Euro is making recovery attempts, moving within Friday's range for now.

On the 1 hour chart quotes are held within the trading range, while on the 3 hour chart the upward channel is still making renewal attempts. Break above the nearest resistance and Friday's top at 1.3078 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.3012, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2900.

There are no major economic events for EU today.

Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.3078 1.3190 1.3314
Technical support levels: 1.3012 1.2900 1.2778

On Friday we made +5 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:17 GMT+1 Buy EUR/USD at 1.3069 SL 1.3043 TP 1.3119, exit sent at 5:27 GMT+1.
Total on Friday +50, as shown at our web site.

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