EUR/USD 1.4358 - 1 September 2009
EUR/USD Open 1.4336 High 1.4361 Low 1.4258 Close 1.4332

Euro/Dollar made a descending movement on Monday to the the 1.4258 bottom, from where it rose to 1.4361, closing the day at 1.4332. Today the downward trend is expected to stretch further, with targets towards 1.4255, the break of which may lead to further losses for the European currency. Penetration upwards yesterday's top and nearest resistance 1.4360 is needed to give convincing signal for resumption of the upward recovery. Key support is yesterday's bottom 1.4255. The CCI indicator is neutral on the 1 hour chart, suggesting calm trading.

Technical resistance levels: 1.4360 1.4475 1.4600

Technical support levels: 1.4255 1.4140 1.4020

Trading range: 1.4370 - 1.4305

Trend: Downward

Sell at 1.4358 SL 1.4388 TP 1.4318

Yesterday we made +23 pips profit on EUR/USD from the following signal:

5:39 GMT+1 Sell EUR/USD at 1.4281 SL 1.4307 TP 1.4231 exited at 7:17 GMT

Total yesterday +109, as shown at www.zifx.com/performance.php

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