EUR/USD Open 1.3161 High 1.3389 Low 1.3160 Close 1.3185

On Monday Euro/Dollar decreased significantly with 230 pips on EU prolonging decisions and uncertainty on the market. The European currency depreciated from 1.3389 to 1.3160 yesterday, after the morning drop, matching the negative Interbank sentiment projection at bellow -3%, closing the day at 1.3185. This morning the Euro is trading quietly, moving at the lower end of yesterday's range for now. On the 1 hour chart new downward channel has emerged, while on the 3 hour small angle downward channel has also formed. Break above the nearest resistance and yesterday's top at 1.3389 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3160, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3142. Today's focus is on France CPI and HICP, and Germany ZEW economic expectations index, at 6:30 and 10 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 inclining upwards, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall all light short signals.
Technical resistance levels: 1.3389 1.3500 1.3624
Technical support levels: 1.3160 1.3142 1.3034

Trading range: 1.3210 - 1.3135
Trend: Downward
Sell at 1.3197 SL 1.3227 TP 1.3147

Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Sell EUR/USD at 1.3346 SL 1.3372 TP 1.3296, TP reached at 8:08 GMT+1.
Total yesterday +146, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com