EUR/USD Open 1.3503 High 1.3641 Low 1.3435 Close 1.3535
On Tuesday Euro/Dollar continued decreasing with 145 pips on continuing European debt hanging issue. The European currency depreciated from 1.3641 to 1.3495 yesterday, not matching the positive Interbank sentiment projection at under +1%, closing the day at 1.3535. This morning the Euro weakened even further, dropping down to 1.3435. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart wide range trading has formed. Break above the nearest resistance and yesterday's top at 1.3641 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3435, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3320. Today's focus is on Italy CPI and HICP, and EU17 Harmonized CPI, all 10 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall all short signals.
Technical resistance levels: 1.3641 1.3758 1.3890
Technical support levels: 1.3435 1.3320 1.3200
Trading range: 1.3465 - 1.3390
Sell at 1.3452 SL 1.3482 TP 1.3402
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:27 GMT Sell EUR/USD at 1.3607 SL 1.3633 TP 1.3557, TP reached at 9:05 GMT+1.
Total yesterday +177, as shown in details at http://www.zifx.com/performance.php.