EUR/USD At 2 Year Low After Fed Minutes

EUR/USD Open 1.2243 High 1.2297 Low 1.2211 Close 1.2236

On Wednesday Euro/Dollar continued decreasing with 85 pips. The European currency depreciated from 1.2297 to 1.2211 yesterday, matching the negative money flow sentiment at bellow -15%, closing the day at 1.2236. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.

On the 1 hour chart new downward channel has formed, while on the 3 hour chart the downward channel has renewed. Break above the nearest resistance and yesterday's top at 1.2297 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2211, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2100.

Today's focus is on France CPI and HICP, and EU17 Industrial production, at 5:30 and 6 GMT respectively.

Quotes are moving just bellow 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 negative and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.

Technical resistance levels: 1.2297 1.2410 1.2533
Technical support levels: 1.2211 1.2100 1.1978

Yesterday we made +15 pips profit/loss on EUR/USD from the following sent to clients only signal:
9:44 GMT+1 Buy EUR/USD at 1.2282 SL 1.2256 TP 1.2332, exit sent at 9:57 GMT+1.
Total yesterday +69, as shown at http://www.zifx.com/performance-past.php.