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Euro Lifts, Oil Falls After Doha Disappoints

Euro Lifts, Oil Falls After Doha Disappoints

EUR/USD Open 1.1287 High 1.1332 Low 1.1244 Close 1.1280

On Friday euro/dollar increased with 70 pips. The European currency appreciated from 1.1244 to 1.1317 on Friday, matching the positive money flow sentiment at over +3%, closing the day at 1.1280. This morning the euro weakened further against the dollar, reaching 1.1332.

On the 1-hour chart the upward channel is turning into range trading, while on the 3-hour chart the upward channel has slowed down. Break above the nearest resistance and today’s top at 1.1332 may trigger further strengthening of the euro. Going below Friday’s bottom and first support at 1.1244, however, would confirm continuation of the bearish trend, towards next objective downwards 1.1130.

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

Technical resistance levels: 1.1332 1.1446 1.1560 Technical support levels: 1.1244 1.1130 1.1012

Today +11 pips gained on EUR/USD from the following signal: 5:30 GMT+1 Sell EUR/USD at 1.1284 SL 1.1310 TP 1.1234, exit given at 7:43 GMT+1.

Total today +77, as shown at our web site.

Have a great day!


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