EUR/USD Open 1.3741 High 1.3914 Low 1.3723 Close 1.3736

On Monday Euro/Dollar decreased with 190 pips on pessimistic EU views at the summit. The European currency depreciated from 1.3914 to 1.3723 yesterday, not matching the positive Interbank sentiment projection at almost +8%, closing the day at 1.3736. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now. On the 1 hour chart quotes are testing the lower limit of the the upward channel, while on the 3 hour chart the new upward channel has slowed down. Break above the nearest resistance and yesterday's top at 1.3914 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3723, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3600. Today's focus is on EU Summit, and Germany ZEW economic expectations index at 9 GMT. Quotes are moving above 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all neutral signals.
Technical resistance levels: 1.3914 1.4030 1.4154
Technical support levels: 1.3723 1.3600 1.3481

Trading range: 1.3760 - 1.3830
Trend: Upward
Buy at 1.3770 SL 1.3740 TP 1.3820

Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:25 GMT+1 Buy EUR/USD at 1.3847 SL 1.3821 TP 1.3897, TP reached at 8:53 GMT+1.
Total yesterday +163, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com