EUR/USD Open 1.3525 High 1.3859 Low 1.3512 Close 1.3539

On Wednesday Euro/Dollar sank with 330 pips on European deepening debt crisis. The European currency depreciated from 1.3859 to 1.3522 yesterday, not matching the positive Interbank sentiment projection at over +4%, closing the day at 1.3539. This morning the Euro descended even further, dropping down to 1.3512. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart wide range trading has formed. Break above the nearest resistance and today's top at 1.3859 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3512, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3400. Today's focus is on France and Germany CPI and HICP, Germany Wholesale prices, and France and Italy Industrial production, at 5:30, 6, 6:45 and 8 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is thinly negative and hesitant, 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: 1.3859 1.3976 1.4100
Technical support levels: 1.3512 1.3400 1.3278

Trading range: 1.3560 - 1.3485
Trend: Downward
Sell at 1.3549 SL 1.3579 TP 1.3499

Yesterday we made +16 pips profit on EUR/USD from the following sent to clients only signal:
7:11 GMT Buy USD/CHF at 0.8984 SL 0.8958 TP 0.9034, exit sent at 7:22 GMT+1.
Total yesterday +81, as shown in details at