EUR/USD 1.3242 - 23 April 2010
EUR/USD Open 1.3268 High 1.3417 Low 1.3206 Close 1.3290

The Euro continued depreciating on Thursday. Euro/Dollar decreased from 1.3417 to 1.3266 yesterday, in line with the Interbank sentiment projection, at nearly -16%, closing the day at 1.3290. On the 1 hour chart the newly formed downward channel continues to gather strength. Break above the nearest resistance and yesterday's top at 1.3417 may lead to further recovery of the Euro. Going bellow today's bottom and first important support at 1.3206, however, should confirm continuation of the bearish trend, towards next target 1.3115. Today's focus is on France Consumer spending, Germany IFO business climate, and EU 16 Industrial orders at 6:45, 8 and 9 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI and CCI indicators is negative and slightly rising, while MACD is negative and calm on the 1 hour chart, giving overall light short signals.Technical resistance levels: 1.3417 1.3525 1.3665Technical support levels: 1.3206 1.3115 1.3028

Trading range: 1.3255 - 1.3190Trend: DownwardSell at 1.3242 SL 1.3272 TP 1.3202

Yesterday we made +6 pips profit on EUR/USD from the following signal:8:04 GMT+1 Buy EUR/USD at 1.3415 SL 1.3389 TP 1.3465 exit at 8:47 GMT+1.Total yesterday +47, as shown in details at http://www.zifx.com/performance.php.