Closing Last Week, EUR/USD Trend Exchange Signal Appears!

<p>&nbsp;Manufacturing and services PMI data published for Europe and the United States at the end of last week triggered a change in direction on the price chart of the EUR/USD currency pair.</p><p><br /></p><p>The Euro currency significantly weakened in the European session following the dismal June data reading before the US dollar took its turn to weaken in the New York session as well.</p><p><br /></p><p>After the bullish movement of the price managed to touch the height at the resistance level of 1.10000, the price started to make a decline with a signal of a trend change.</p><p><br /></p><p><br /></p><p><br /></p><p>Last Friday, the price has started to move below the Moving Average 50 (MA50) barrier level on the 1-hour time frame of the chart in the Asian session making investors ready for a plunge in the next session.</p><p><br /></p><p>The drop has reached around 1.08500 before the price rebounded and closed the trade in the last session around 1.08900.</p><p><br /></p><p>The slow price movement around that started the opening trade early in the week in the Asian session this morning (Monday) and is still seen to be below the MA50 barrier.</p><p><br /></p><p><br /></p><p>A lower decline if continued after this is seen to try to overcome last week's lowest level before heading to the RBS (resistance become support) zone of 1.08000.</p><p><br /></p><p>Next, the bearish movement that continues past the RBS zone will extend the price towards around 1.07000.</p><p><br /></p><p>However, on the other hand, if the price surges and crosses the MA50 barrier again, this will be a signal for the price to resume the upward movement like in the previous weeks.</p><p><br /></p><p>A continued rise will once again test the resistance at the 1.10000 zone reached last week.</p><p><br /></p><p>And if the price succeeds in breaking through to a higher level, the price will record the latest 7-week high level with the next target to reach around 1.12000.</p>