EUR/USD Open 1.4122 High 1.4401 Low 1.4123 Close 1.4176

On Wednesday Euro/Dollar decreased significantly with almost 280 pips on US Debt issue. The European currency depreciated from 1.4401 to 1.4123 yesterday, not matching the neutral Interbank sentiment projection at under 0%, closing the day at 1.4176. This morning the European currency bounced, and is trading quietly at the lower end of yesterday's range for now. On the 1 hour chart small angle downward has emerged, while on the 3 hour chart trading is within a wide range. Break above the nearest resistance and yesterday's top at 1.4401 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4123, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4014. There are no major economic events for EU today. Quotes are moving just bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is thinly positive and calm, MACD is negative and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.4401 1.4512 1.4630
Technical support levels: 1.4123 1.4014 1.3900

Trading range: 1.4230 - 1.4155
Trend: Downward
Sell at 1.4218 SL 1.4248 TP 1.4168

Yesterday we made +22 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Buy EUR/USD at 1.4339 SL 1.4313 TP 1.4389, exit sent at 6:37 GMT+1.
Total yesterday +116, as shown in details at http://www.zifx.com/performance.php.

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