EUR/USD 1.2222 - 30 June 2010

EUR/USD Open 1.2186 High 1.2288 Low 1.2153 Close 1.2185

On Tuesday Euro/Dollar continued decreasing significantly. The European currency dropped from 1.2288 to 1.2153, in converse with the Interbank sentiment projection, at around +6%, closing the day at 1.2185. This morning movement is adjusting so far. On the 1 hour chart the pair is now in a consolidation phase, and on the 3 hour chart the downward channel is trying to resume. Break above the nearest resistance and yesterday's top at 1.2288 may trigger further recovery of the Euro. Going bellow yesterday's bottom and first support at 1.2153, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2055. Today's focus is on Italy Business confidence, Germany Unemployment, Italy PPI, CPI, and HICP, and EU 16 Harmonized CPI at 7:30, 7:55, 8 and 9 GMT respectively. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and going towards the overbought zone, MACD is negative and rising, while CCI has crossed up the 100 line on the 1 hour chart, giving overall mixed signals.Technical resistance levels: 1.2288 1.2395 1.2485Technical support levels: 1.2153 1.2055 1.1940

Trading range: 1.2235 - 1.2170Trend: DownwardSell at 1.2222 SL 1.2252 TP 1.2182

Yesterday we made +50 pips profit on EUR/USD from the following signal:5:33 GMT+1 Sell EUR/USD at 1.2264 SL 1.2290 TP 1.2214 TP reached at 8:59 GMT+1.Total yesterday +150, as shown in details at http://www.zifx.com/performance.php.