EUR/USD Open 1.4370 High 1.4536 Low 1.4329 Close 1.4367

On Wednesday Euro/Dollar decreased significantly with 200 pips on European woes resurfacing, losing all Tuesday's gains. The European currency depreciated from 1.4536 to 1.4338 yesterday, not matching the positive Interbank sentiment projection at almost +5%, closing the day at 1.4367. This morning the European currency descended further, dropping down to 1.4329. On the 1 hour chart quotes are testing the lower limit of the upward channel, while on the 3 hour chart trading is moving into a wide range. Break above the nearest resistance and yesterday's top at 1.4536 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.4329, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4211. Today's focus is on Germany Unemployment, EU17 Economic sentiment index and Business climate indicator at 7:55 and 9 GMT respectively. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and rising, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4536 1.4650 1.4769
Technical support levels: 1.4329 1.4211 1.4100

Trading range: 1.4340 - 1.4415
Trend: Upward
Buy at 1.4352 SL 1.4322 TP 1.4402

Yesterday we made +17 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Buy EUR/USD at 1.4512 SL 1.4486 TP 1.4562, exit sent at 6:36 GMT+1.
Total yesterday +103, as shown in details at http://www.zifx.com/performance.php.

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