EUR/USD Open 1.3860 High 1.4171 Low 1.3791 Close 1.3858

On Monday Euro/Dollar decreased significantly with 340 pips. The European currency depreciated from 1.4171 to 1.3827 yesterday, not matching the positive Interbank sentiment projection at almost +6%, closing the day at 1.4144. This morning the Euro descended slightly further, dropping down to 1.3791. On the 1 hour chart range trading is forming, while on the 3 hour chart the upward channel was broken downwards. Break above the nearest resistance and yesterday's top at 1.4171 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3791, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3676. There are no major economic events for EU today. 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: 1.4171 1.4281 1.4400
Technical support levels: 1.3791 1.3676 1.3550

Trading range: 1.3835 - 1.3760
Trend: Downward
Sell at 1.3821 SL 1.3851 TP 1.3771

Yesterday we made +32 pips profit on EUR/USD from the following sent to clients only signal:
5:25 GMT Sell EUR/USD at 1.4006 SL 1.4032 TP 1.3956, exit sent at 6:03 GMT+1.
Total yesterday +106, as shown in details at http://www.zifx.com/performance.php.

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