EUR/USD Open 1.2929 High 1.3073 Low 1.2896 Close 1.2938

On Wednesday Euro/Dollar decreased with 180 pips, losing all earlier week's gains. The European currency depreciated from 1.3073 to 1.2896, not matching the positive Interbank sentiment projection at almost +10%, closing the day at 1.2938. This morning the Euro is trading quietly at the lower end of yesterday's range for now. On the 1 hour chart new range trading has formed, while on the 3 hour chart the downward channel is making renewal attempts. Break above the nearest resistance and yesterday's top at 1.3073 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2896, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2780. Today's focus is on Germany Retail sales, France Consumer confidence and spending, and EU17 PPI and Industrial orders, at 7, 7:45 and 10 GMT. Quotes are moving just bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and inclining upwards, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall all neutral to light short signals.
Technical resistance levels: 1.3073 1.3200 1.3322
Technical support levels: 1.2896 1.2780 1.2657

Trading range: 1.2935 - 1.2860
Trend: Downward
Sell at 1.2922 SL 1.2952 TP 1.2872

Yesterday we made +40 pips profit on EUR/USD from the following sent to clients only signal:
5:20 GMT Buy EUR/USD at 1.3033 SL 1.3007 TP 1.3083, exit sent at 8:15 GMT+1.
Total yesterday +93, as shown in details at http://www.zifx.com/performance.php.

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