We have not seen any major moves on Friday. The Euro kept a bottom at 1.4027, which is very close to the most important support at the moment 1.4014, and started to rise, breaking the report's resistance 1.4137, but settled for 1.4180 only, closing just a bit below it. Candlestick watchers can notice that Thursday's candle is in fact a hammer, and that Fridays candle has recorded a higher high, working as a confirmation for the hammer pattern.

This makes the odds favor a continuation of the rise that started at 1.4027, to at least create a matching correction for the whole drop from 1.4577. Today's resistance is provided by the falling trend line from 1.4554 on the hourly chart, which is currently at 1.4184, while the support is provided by short term 61.8% Fibonacci at 1.4085. Breaking resistance of the day would initiate a strong rise targeting 1.4302, and then 1.4367. But if the unexpected happens and we break 1.4085, the strong & sharp drop from 1.4577 that has gained 550 pips until this moment will carry on, and will target the very important 1.4014, and may be later 1.3928.

Support:

* 1.4085: Fibonacci 61.8% for the short term.

* 1.4014: Fibonacci 50% for the long term (for the rise from 1.2885 to1.5143).

* 1.3928: Jul 15th low.

Resistance:

* 1.4184: the falling trend line from 1.4554 on the hourly chart.

* 1.4302: Fibonacci 50% for the whole drop from 1.4577.

* 1.4367: Fibonacci 61.8% for the whole drop from 1.4577.