EUR/USD Open 1.3406 High 1.3429 Low 1.3332 Close 1.3400

On Tuesday Euro/Dollar traded within 100 pip range. The European currency appreciated from 1.3332 to 1.3429 yesterday, not matching the negative Interbank sentiment projection at bellow -2%, closing the day at 1.3400. This morning the Euro is trading quietly, at the upper end of yesterday's range for now. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are still holding within wider trading range. Break above the nearest resistance and yesterday's top at 1.3429 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3332, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3220. Today's focus is on Italy and Germany Industrial production, at 10 and 11 GMT respectively. Quotes are moving just above the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is neutral and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all neutral to light long signals.
Technical resistance levels: 1.3429 1.3546 1.3670
Technical support levels: 1.3332 1.3220 1.3100

Trading range: 1.3435 - 1.3360
Trend: Downward
Sell at 1.3424 SL 1.3454 TP 1.3374

Yesterday we made +36 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Sell EUR/USD at 1.3370 SL 1.3396 TP 1.3320, exit sent at 7:30 GMT+1.
Total yesterday +129, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com