EUR/USD 1.4313 - 8 January 2010

EUR/USD Open 1.4318 High 1.4443 Low 1.4290 Close 1.4310

Euro/Dollar attempted to increase on Thursday, sliding over the 1.4443 top, where bulls ran out of strength, and quotes tumbled down to the 1.4302 bottom, closing the day at 1.4310. On the 1 hour chart the bullish break was not convincing, therefore it can be regarded as a correction only, and the currency couple continued weakening. On the same chart EUR/USD is still trading within the 1.4229 - 1.4484 range. Break bellow 1.4229 may weaken the European currency further towards 1.4165, while penetration on the 1.4484 top might give advantage to the bulls with possible test of 1.4582. The CCI indicator is had crossed down the 100 line on the 1 hour chart, suggesting bearish pressure.
Technical resistance levels: 1.4443 1.4532 1.4627
Technical support levels: 1.4290 1.4165 1.4079

Yesterday we made +35 pips profit on EUR/USD from the following signal:
5:32 GMT Sell EUR/USD at 1.4392 SL 1.4418 TP 1.4342 exited at 7:05 GMT
Total yesterday +172, as shown in details at www.zifx.com/performance.php.

/