EUR/USD 1.2967 - 5 May 2010
EUR/USD Open 1.2967 High 1.3214 Low 1.2937 Close 1.2985

The Euro continued depreciating on Tuesday. Euro/Dollar decreased from 1.3214 to 1.2963 yesterday, in line with the Interbank sentiment projection, at around -8%, closing the day at 1.2985. On the 1 hour chart the downward channel is gathering strength, as European crisis problems continue. Break above the nearest resistance and yesterday's top at 1.3214 may lead to further recovery of the Euro. Going bellow today's bottom and first support at 1.2937, however, should confirm continuation of the bearish trend, towards next target 1.2850. Today's focus is on Italy, France, Germany, and EU 19 PPI, and EU 16 Retail sales at 7:45, 7:50, 7:55, 8 and 9 GMT respectively. Quotes are moving bellow the the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of all RSI indicator is negative and inclining slightly upwards, while MACD and CCI are negative and calm on the 1 hour chart, giving overall short signals.Technical resistance levels: 1.3214 1.3358 1.3445Technical support levels: 1.2937 1.2850 1.2744

Trading range: 1.2980 - 1.2915Trend: DownwardSell at 1.2967 SL 1.2997 TP 1.2927

Yesterday we made +50 pips profit on EUR/USD from the following signal:5:35 GMT+1 Sell EUR/USD at 1.3203 SL 1.3229 TP 1.3153 TP reached at 8:25 GMT+1.Total yesterday +166, as shown in details at http://www.zifx.com/performance.php.