EUR/USD Open 1.4329 High 1.4466 Low 1.4285 Close 1.4318

On Wednesday the Euro/Dollar continued decreasing with 180 pips. The European currency depreciated from 1.4466 to 1.4285 yesterday, not matching the positive Interbank sentiment projection at nearly +5%, closing the day at 1.4318. This morning the European is trading quietly before the ECB meeting, with movements within yesterday's range for now. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and yesterday's top at 1.4466 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4285, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4170. Today's focus is on Germany Industrial production, EU17 ECB meeting announcement and press conference, at 10, 11:45 and 12:30 GMT respectively. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and hesitant, 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: 1.4466 1.4582 1.4700
Technical support levels: 1.4285 1.4170 1.4053

Trading range: 1.4340 - 1.4265
Trend: Downward
Sell at 1.4326 SL 1.4356 TP 1.4276

Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Sell EUR/USD at 1.4454 SL 1.4480 TP 1.4404, TP reached at 8:06 GMT+1.
Total yesterday +120, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com