EUR/USD Open 1.2949 High 1.2967 Low 1.2857 Close 1.2960

On Thursday Euro/Dollar continued decreasing in the morning, and adjusted strongly in the afternoon. The European currency first depreciated to 1.2857, than climbed up to 1.2967, matching the morning negative Interbank sentiment projection at bellow -10%, closing the day at 1.2960. This morning the Euro is trading quietly at the upper end of yesterday's range for now. On the 1 hour chart the downward channel is making renewal attempts, while on the 3 hour chart the downward channel has resumed. Break above the nearest resistance and yesterday's top at 1.2967 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2857, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2743. Today's focus is on Italy PPI at 11 GMT. 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 thinly positive and declining, MACD is neutral and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all neutral signals.
Technical resistance levels: 1.2967 1.3080 1.3200
Technical support levels: 1.2857 1.2743 1.2620

Trading range: 1.2950 - 1.2875
Trend: Downward
Sell at 1.2937 SL 1.2967 TP 1.2887

Yesterday we made +20 pips profit on EUR/USD from the following sent to clients only signal:
5:20 GMT Sell EUR/USD at 1.2932 SL 1.2958 TP 1.2882, exit sent at 8:14 GMT+1.
Total yesterday +83, as shown in details at http://www.zifx.com/performance.php.

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