EUR/USD Open 1.3900 High 1.3961 Low 1.3848 Close 1.3904

On Tuesday Euro/Dollar traded within 110 pip range, as the Euro hanged before next EU summit. The European currency depreciated from 1.3961 to 1.3848 yesterday, not matching the positive Interbank sentiment projection at almost +12%, closing the day at 1.3904. This morning the Euro is trading quietly, with movements within yesterday's resistance for now. On the 1 hour chart the upward channel has renewed, while on the 3 hour chart range trading has formed. Break above the nearest resistance and yesterday's top at 1.3961 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3848, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3730. Today's focus is on Germany Import prices, Italy Business confidence, and France Unemployment, at 6, 8 and 16 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 declining, MACD is slightly positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all light long signals.
Technical resistance levels: 1.3961 1.4073 1.4200
Technical support levels: 1.3848 1.3730 1.3559

Trading range: 1.3905 - 1.3980
Trend: Upward
Buy at 1.3917 SL 1.3887 TP 1.3967

Yesterday we made +17 pips profit on EUR/USD from the following sent to clients only signal:
5:25 GMT+1 Buy EUR/USD at 1.3908 SL 1.3882 TP 1.3958, exit sent at 7:30 GMT+1.
Total yesterday +60, as shown in details at http://www.zifx.com/performance.php.

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