EUR/USD Open 1.3204 High 1.3255 Low 1.3133 Close 1.3195

On Thursday Euro/Dollar was slammed by the european recession worries with 120 pips. The European currency depreciated from 1.3255 to 1.3133 yesterday, not matching the positive Interbank sentiment projection at over +9%, closing the day at 1.3195. This morning the Euro is trading quietly, with movements in the middle of yesterday's range for now. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are moving within wider range. Break above the nearest resistance and yesterday's top at 1.3255 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3133, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3020. Today's focus is on France Business confidence and Italy Retail sales, at 7:45 and 9 GMT respectively. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and dropping, MACD is neutral and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.3255 1.3373 1.3500
Technical support levels: 1.3133 1.3020 1.2900
Yesterday we made +24 pips profit on EUR/USD from the following sent to clients only signal:
5:18 GMT Buy EUR/USD at 1.3231 SL 1.3205 TP 1.3281, exit sent 7:15 GMT+1.
Total yesterday +134, as shown in details at http://www.zifx.com/performance-past.php.

ZIFX.com