EUR/USD Still Stable After Chinese Data

EUR/USD Open 1.2370 High 1.2403 Low 1.2325 Close 1.2363

On Wednesday Euro/Dollar decreased with 75 pips. The European currency depreciated from 1.2403 to 1.2325 yesterday, not matching the positive money flow sentiment at almost 16%, closing the day at 1.2363. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now.

On the 1 hour chart quotes broke up of the trading range, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.2403 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2325, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2210.

Today's focus is on Germany Wholesale prices, at 6 GMT.

Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI is in line with the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.2403 1.2520 1.2643
Technical support levels: 1.2325 1.2210 1.2088

Yesterday we made +31 pips profit/loss on EUR/USD from the following sent to clients only signal:
7:58 GMT+1 Buy EUR/USD at 1.2361 SL 1.2335 TP 1.2411, exit sent at 10:06 GMT+1.
Total yesterday +83, as shown at http://www.zifx.com/performance-past.php.