EUR/USD Open 1.3016 High 1.3237 Low 1.3007 Close 1.3034

On Tuesday Euro/Dollar continued decreasing significantly with 230 pips. The European currency depreciated from 1.3237 to 1.3007 yesterday, matching the negative Interbank sentiment projection at bellow -11%, closing the day at 1.3034. 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 formed, while on the 3 hour small angle downward channel has also taken shape. Break above the nearest resistance and yesterday's top at 1.3237 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3007, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2890. Today's focus is on EU17 Industrial production at 10 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating 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: 1.3237 1.3350 1.3474
Technical support levels: 1.3007 1.2890 1.2767

Trading range: 1.3050 - 1.2975
Trend: Downward
Sell at 1.3036 SL 1.3066 TP 1.2986

Yesterday we made +29 pips profit on EUR/USD from the following sent to clients only signal:
5:22 GMT Sell EUR/USD at 1.3194 SL 1.3220 TP 1.3144, exit sent at 7:32 GMT+1.
Total yesterday +87, as shown in details at http://www.zifx.com/performance.php.

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