EUR/USD Open 1.4171 High 1.4217 Low 1.4067 Close 1.4150

On Tuesday Euro/Dollar increased with 150 pips on upcoming EU Summit hopes. The European currency appreciated from 1.4067 to 1.4217 yesterday, not matching the negative Interbank sentiment projection at under -5%, closing the day at 1.4150. This morning the European currency is trading quietly, and within yesterday's range for now. On the 1 hour chart the downward channel is fading away, while on the 3 hour chart the downward channel is on hold. Break above the nearest resistance and yesterday's top at 1.4217 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4067, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3950. Today's focus is on Germany PPI at 6 GMT. Quotes are moving just bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.4217 1.4330 1.4450
Technical support levels: 1.4067 1.3950 1.3833

Trading range: 1.4140 - 1.4215
Trend: Upward
Buy at 1.4153 SL 1.4123 TP 1.4203

Yesterday we made +44 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Sell EUR/USD at 1.4112 SL 1.4138 TP 1.4062, exit sent at 7:04 GMT+1.
Total yesterday +130, as shown in details at http://www.zifx.com/performance.php.

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