EUR/USD Open 1.4502 High 1.4536 Low 1.4356 Close 1.4510

On Tuesday Euro/Dollar increased significantly with 170 pips on continuing US Debt woes. The European currency depreciated from 1.4356 to 1.4526 yesterday, matching the positive Interbank sentiment projection at almost +4%, closing the day at 1.4510. This morning the European currency climbed further, reaching up to 1.4536. On the 1 hour chart the upward channel looks good, while on the 3 hour chart trading has moved into a wide range. Break above the nearest resistance and today's top at 1.4536 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4356, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4240. Today's focus is on EU17 M3 money supply and Germany CPI at 8 and 12:35 GMT respectively. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.4536 1.4650 1.4769
Technical support levels: 1.4356 1.4240 1.4123

Trading range: 1.4500 - 1.4575
Trend: Upward
Buy at 1.4513 SL 1.4483 TP 1.4563

Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Buy EUR/USD at 1.4470 SL 1.4444 TP 1.4520, TP reached at 7:56 GMT+1.
Total yesterday +148, as shown in details at http://www.zifx.com/performance.php.

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