EUR/USD Open 1.3652 High 1.3871 Low 1.3606 Close 1.3696

On Tuesday Euro/Dollar decreased significantly with 260 pips on Greek referendum news. The European currency depreciated from 1.3871 to 1.3606 yesterday, not matching the positive Interbank sentiment projection at above +6%, closing the day at 1.3696. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now. On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel was broken downwards. Break above the nearest resistance and yesterday's top at 1.3871 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3606, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3490. Today's focus is on Italy, France and Germany PMI, Germany Unemployment, and EU17 PMI, at 8:45, 8:50, 8:55 and 9 GMT respectively. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall all neutral signals.
Technical resistance levels: 1.3871 1.3983 1.4100
Technical support levels: 1.3606 1.3490 1.3569

Trading range: 1.3730 - 1.3655
Trend: Downward
Sell at 1.3719 SL 1.3749 TP 1.3669

Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:53 GMT Sell EUR/USD at 1.3823 SL 1.3849 TP 1.3773, TP reached at 6:58 GMT+1.
Total yesterday +174, as shown in details at http://www.zifx.com/performance.php.

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