On Wednesday EUR/USD resumed decreasing with 130 pips. The European currency depreciated from 1.2790 to 1.2660 yesterday, matching the negative Interbank sentiment projection at under -9%, closing the day at 1.2705. This morning the Euro is trading quietly, at the lower half of yesterday's range for now. On the 1 hour chart the downward channel is making renewal attempts, while on the 3 hour chart the downward channel looks good. Break above the nearest resistance and yesterday's top at 1.2790 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2660, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2548. Today's focus is on France and Germany CPI, Italy and EU17 Industrial production, and EU17 ECB meeting announcement and press conference, at 6:30, 7, 9, 10, 12:45 and 13:30 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 thinly crossed up the 100 line on the 1 hour chart, giving overall all neutral signals.
Technical resistance levels: 1.2790 1.2900 1.3021
Technical support levels: 1.2660 1.2548 1.2430
Trading range: 1.2730 - 1.2660
Trend: Downward
Sell at 1.2720 SL 1.2750 TP 1.2670
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:21 GMT Buy EUR/USD at 1.2737 SL 1.2711 TP 1.2787, TP reached at 9:56 GMT+1.
Total yesterday +127, as shown in details at our web site. 
EUR/USD Chart" title="ZIFX.com EURUSD Chart">
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Weak EUR/USD, But Still Held Within This Week's Range
Published 01/12/2012, 12:43 AM
Updated 01/01/2017, 02:20 AM
Weak EUR/USD, But Still Held Within This Week's Range
EUR/USD Open 1.2720 High 1.2790 Low 1.2660 Close 1.2705
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