EUR/USD Open 1.3762 High 1.3869 Low 1.3706 Close 1.3757

On Wednesday Euro/Dollar increased with 145 pips. The European currency appreciated from 1.3723 to 1.3869 yesterday, matching the positive Interbank sentiment projection at over +9%, closing the day at 1.3757. This morning the Euro weakened, dropping down to 1.3706. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart range trading has formed. Break above the nearest resistance and yesterday's top at 1.3869 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3706, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3588. Today's focus is on Germany PPI at 6 GMT. Quotes are moving just bellow the close the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall all light short signals.
Technical resistance levels: 1.3869 1.3982 1.4100
Technical support levels: 1.3706 1.3588 1.3460

Trading range: 1.3735 - 1.3660
Trend: Downward
Sell at 1.3723 SL 1.3753 TP 1.3673

Yesterday we made +18 pips profit on EUR/USD from the following sent to clients only signal:
6:32 GMT+1 Buy EUR/USD at 1.3823 SL 1.3797 TP 1.3873, exit sent at 7:11 GMT+1.
Total yesterday +105, as shown in details at http://www.zifx.com/performance.php.

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