EUR/USD 1.3155 - 10 August 2010

EUR/USD Open 1.3229 High 1.3302 Low 1.3137 Close 1.3223

After insignificant rising effort, on Monday the Euro/Dollar started decreasing sharply. The European currency depreciated from 1.3302 to 1.3219 yesterday, not matching the neutral Interbank sentiment projection, at nearly +3%, closing the day at 1.3223. This morning dropping extended down to 1.3137. On the 1 and 3 hour charts quotes are testing the lower limit of the the upwards channel. Break above the nearest resistance and yesterday's top at 1.3302 may trigger further recovery of the Euro. Going bellow today's bottom and first support at 1.3137, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3040. Today's focus is on Germany CPI and HICP, and France Industrial production at 6 and 6:45 GMT respectively. 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 calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.3302 1.3411 1.3320
Technical support levels: 1.3137 1.3040 1.2942

Yesterday we made +31 pips profit on EUR/USD from the following signal:
5:33 GMT+1 Buy EUR/USD at 1.3275 SL 1.3249 TP 1.3325 exit sent 7:23 GMT+1.
Total yesterday +91, as shown in details at http://www.zifx.com/performance.php.

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