| Buy a break of resistance level at 1.2800 | Sell a break of support level at 1.2655 |
| Buy a break of resistance level at 1.2750 | Sell a break of support level at 1.2600 |
| Buy a bounce at 1.2655 | Sell a failure of breaking the resistance 1.2800 |
Fundamental
The Euro finished the week at fresh monthly lows against the US Dollar, briefly breaking below the psychologically significant 1.2700 mark before recovering marginally into Friday’s close. A relatively uneventful week of trading left the EURUSD in a tight range until the very end; a near-2 percent decline in the Japanese Nikkei 225 sparked similar declines in European equity indices and took the EURUSD lower on a broad-based US Dollar advance. The week ahead promises a pickup in economic event risk, and the recent EURUSD downtrend leaves it at clear risk of breaking below key support at 1.27. It will be critical to watch whether economic data will be enough to deep the European currency aloft against its US counterpart.
Technical
Technical analysis shows us the euro may continue its downtrend against U.S. dollar as MACD shows a divergences. RSI is in a downtrend. Bollinger gives a bearish signal by closing the candle below the middle band.
EUR/USD (Daily Chart)
The primary tendency gives a bearish trend.
EUR/USD (4 Hour Chart)
The pair breaks 2 moving averages downwards.
EUR/USD (Hourly Chart)
The Minor trend is trying to break Fibonacci fan.
Resistance
1.2800
1.2750
Support
1.2655
1.2600
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