EUR/USD Open 1.3321 High 1.3358 Low 1.3207 Close 1.3289
The Euro appreciated on Friday. Euro/Dollar increased from 1.3228 to 1.3337 range on Friday, not matching with the Interbank sentiment projection, at around -11%, closing the week at 1.3289. On the 1 hour chart the downward channel was disturbed upwards, as Europe seems to be getting over the debt crises curve for now, but today resumed again. Break above the nearest resistance and today’s top at 1.3358 may lead to further recovery of the Euro. Going bellow today’s bottom and first support at 1.3207, however, should confirm continuation of the bearish trend, towards next target 1.3116. Today’s focus is on Italy, France, Germany and EU PMI for April at 7:45, 7:50, 7:55 and 8 GMT respectively. Quotes are moving bellow the the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The values of all RSI, MACD and CCI indicators are negative and calm on the 1 hour chart, giving overall light bearish signals.
Technical resistance levels: 1.3358 1.3445 1.3562
Technical support levels: 1.3207 1.3116 1.3060
Trading range: 1.3195 – 1.3255
Trend: Upward
Buy at 1.3205 SL 1.3175 TP 1.3245
Written by iFOREX.bg
