EUR/USD Open 1.3999 High 1.4284 Low 1.3971 Close 1.3994

On Tuesday Euro/Dollar jumped on good EU GDP, but later decreasead with over 300 pips, losing more than it gained. The European currency depreciated from 1.4284 to 1.3971 yesterday, matching the negative Interbank sentiment projection at bellow -4%, closing the day at 1.3994. This morning the Euro is trading quietly against the Dollar, and within yesterday's range for now. On the 1 hour chart the downward channel looks good, while on the 3 hour new downward channel has emerged. Break above the nearest resistance and yesterday's top at 1.4284 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3971, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3856. Today's focus is on Germany Industrial production at 10 GMT. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.4284 1.4400 1.4519
Technical support levels: 1.3971 1.3856 1.3737

Trading range: 1.4060 - 1.3985
Trend: Downward
Sell at 1.4047 SL 1.4077 TP 1.3997

Yesterday we made +30 pips profit on EUR/USD from the following sent to clients only signal:
5:27 GMT+1 Sell EUR/USD at 1.4068 SL 1.4094 TP 1.4018, exit sent at 6:05 GMT+1.
Total yesterday +124, as shown in details http://www.zifx.com/performance.php.

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