EUR/USD Open 1.2321 High 1.2385 Low 1.2315 Close 1.2320

On Tuesday Euro/Dollar traded within 70 pip range. The European currency depreciated from 1.2385 to 1.2315 yesterday, not matching the positive money flow sentiment at almost 11%, closing the day at 1.2320. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.

On the 1 hour chart small angle wide upward channel has formed, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.2385 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2315, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2200.

Today's focus is on Germany Wholesale prices at 6 GMT.

Quotes are moving in line with the even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is neutral and calm, MACD is positive and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.

Technical resistance levels: 1.2385 1.2500 1.2624
Technical support levels: 1.2315 1.2200 1.2077

Yesterday we made +42 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.2344 SL 1.2318 TP 1.2394, exit sent at 8:31 GMT+1.
Total yesterday +136, as shown at http://www.zifx.com/performance.php.

"EUR/USD