EUR/USD Open 1.3965 High 1.4053 Low 1.3835 Close 1.3973

On Tuesday the Euro/Dollar continued decreasing strongly with 320 pips. The European currency depreciated from 1.4053 to 1.3835 yesterday, matching the negative Interbank sentiment projection at almost -1%, later recovered, closing the day at 1.3973. This morning the European currency is trading quietly, and within yesterday's range for now. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel has emerged. Break above the nearest resistance and yesterday's top at 1.4053 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3835, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.3719. Today's focus is on EU17 Industrial production at 9 GMT. Quotes are moving about in line with the close 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4053 1.4169 1.4286
Technical support levels: 1.3835 1.3719 1.3600

Trading range: 1.4010 - 1.3935
Trend: Downward
Sell at 1.3998 SL 1.4028 TP 1.3948

Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Sell EUR/USD at 1.3959 SL 1.3985 TP 1.3909, TP reached at 8:08 GMT+1.
Total yesterday +178, as shown in details at http://www.zifx.com/performance.php.

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