EUR/USD Open 1.4038 High 1.4305 Low 1.3931 Close 1.4028

On Monday the Euro/Dollar continued decreasing strongly with 320 pips. The European currency depreciated from 1.4305 to 1.3984 yesterday, not matching the positive Interbank sentiment projection at under +1%, closing the day at 1.4028. This morning the European weakened even further, dropping down to 1.3931. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel has emerged. Break above the nearest resistance and yesterday's top at 1.4305 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3931, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.3819. Today's focus is on France and Germany CPI and HICP at 5:30 and 6 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4305 1.4423 1.4540
Technical support levels: 1.3931 1.3819 1.3700

Trading range: 1.3975 - 1.3900
Trend: Downward
Sell at 1.3963 SL 1.3993 TP 1.3913

Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:28 GMT+1 Sell EUR/USD at 1.4189 SL 1.4215 TP 1.4139, TP reached at 8:23 GMT+1.
Total yesterday +124, as shown in details at