EUR/USD Open 1.2791 High 1.2944 Low 1.2762 Close 1.2785

On Thursday Euro/Dollar continued decreasing significantly with 175 pips. The European currency depreciated from 1.2944 to 1.2769 yesterday, matching the negative Interbank sentiment projection at bellow -5%, closing the day at 1.2785. This morning the Euro weakened slightly further, reaching 1.2762. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart the downward channel has renewed. Break above the nearest resistance and yesterday's top at 1.2944 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2762, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2644. Today's focus is on EU17 Retail sales, Unemployment, Economic sentiment index, Business climate indicator, and Germany Manufacturing orders, at 10 and 11 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 calm, MACD is negative and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall all light short signals.
Technical resistance levels: 1.2944 1.3060 1.3183
Technical support levels: 1.2762 1.2644 1.2520

Trading range: 1.2790 - 1.2620
Trend: Downward
Sell at 1.2780 SL 1.2810 TP 1.2630

Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:19 GMT Sell EUR/USD at 1.2922 SL 1.2948 TP 1.2872, TP reached at 8:52 GMT+1.
Total yesterday +177, as shown in details at http://www.zifx.com/performance.php.

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