EUR/USD Open 1.2563 High 1.2628 Low 1.2521 Close 1.2564

On Tuesday Euro/Dollar decreased with 85 pips on investors worries ahead of ECB meeting tomorrow. The European currency depreciated from 1.2628 to 1.2554 yesterday, matching the positive money flow sentiment at almost 22%, closing the day at 1.2574. This morning the Euro dropped even further, reaching 1.2521.

On the 1 hour chart the upward channel is making renewal attempts, while on the 3 hour chart wide range trading has formed. Break above the nearest resistance and yesterday's top at 1.2628 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.2521, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2405.

Today's focus is on Italy, France, Germany and EU17 PMI, and EU17 Retail sales, at 7:45, 7:50, 7:55, 8 and 9 GMT respectively.

Quotes are moving just bellow the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term slim bearish and medium term neutral pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.2628 1.2740 1.2864
Technical support levels: 1.2521 1.2405 1.2280

Yesterday we made +8 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.2614 SL 1.2588 TP 1.2664, exit sent at 5:32 GMT+1.
Total yesterday +42, as shown at