EUR/USD 1.4221 - 2 September 2009
EUR/USD Open 1.4218 High 1.4376 Low 1.4184 Close 1.4219

Euro/Dollar renewed its downward trend on Tuesday, dropping significantly from 1.4376 to 1.4184, closing the day at 1.4219. The 1.4375 resistance, which is a yesterday's top, played a key role in the trend continuation. Our preferable scenario for today is downwards. Indicators also support the bearish trend. Break downwards of the nearest support would confirm the descending views with next targets 1.4060. The CCI indicator has crossed down the 100 line on the 1 hour chart, signaling for accumulated bearish pressure.

Technical resistance levels: 1.4375 1.4480 1.4600

Technical support levels: 1.4185 1.4060 1.3950

Trading range: 1.4235 - 1.4170

Trend: Downward

Sell at 1.4221 SL 1.4251 TP 1.4181

Yesterday we made +12 pips profit on EUR/USD from the following signal:

5:39 GMT+1 Sell EUR/USD at 1.4354 SL 1.4380 TP 1.4304 exited at 5:44 GMT

Total yesterday +110, as shown at www.zifx.com/performance.php

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