EUR/USD Open 1.3004 High 1.3052 Low 1.2982 Close 1.2995

On Monday Euro/Dollar traded within 70 pip range. The European currency depreciated from 1.3052 to 1.2982 yesterday, matching the negative Interbank sentiment projection at under -9%, closing the day at 1.2995. This morning the Euro is trading quietly, and within yesterday's range for now. On the 1 hour chart the downward channel is on hold, while on the 3 hour the new downward channel has slowed down. Break above the nearest resistance and yesterday's top at 1.3052 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2982, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2860. Today's focus is on Germany PPI and IFO business climate index at 7 and 9 GMT respectively. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is neutral and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall all neutral to light short signals.
Technical resistance levels: 1.3052 1.3171 1.3300
Technical support levels: 1.2982 1.2860 1.2733

Trading range: 1.2990 - 1.3055
Trend: Upward
Buy at 1.3004 SL 1.2974 TP 1.3044

Yesterday we made +9 pips profit on EUR/USD from the following sent to clients only signal:
5:19 GMT Sell EUR/USD at 1.3008 SL 1.3034 TP 1.2958, exit sent at 6:02 GMT+1.
Total yesterday +49, as shown in details at http://www.zifx.com/performance.php.

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