EUR/USD Open 1.2771 High 1.2796 Low 1.2665 Close 1.2763

On Monday Euro/Dollar commenced a recovery on Merkel-Sarkozy Talks, increasing with 120 pips. The European currency appreciated from 1.2665 to 1.2786 yesterday, not matching the negative Interbank sentiment projection at almost -11%, closing the day at 1.2763. This morning the Euro lifted even further, climbing up to 1.2796. On the 1 hour chart the downward channel is on hold, while on the 3 hour chart the downward channel still is intact. Break above the nearest resistance and today's top at 1.2796 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2665, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2550. Today's focus is on France Industrial production at 7:45 GMT. Quotes are moving just above the crossed and close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall all light long signals.
Technical resistance levels: 1.2796 1.2913 1.3040
Technical support levels: 1.2665 1.2550 1.2427

Trading range: 1.2770 - 1.2845
Trend: Upward
Buy at 1.2784 SL 1.2754 TP 1.2834

Yesterday we made +13 pips profit on EUR/USD from the following sent to clients only signal:
7:33 GMT Sell EUR/USD at 1.2746 SL 1.2772 TP 1.2696, exit sent at 7:50 GMT+1.
Total yesterday +54, as shown in details at http://www.zifx.com/performance.php.

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