Sorry to hear you got hit by both Panda and Penguin - were there particular keywords that got hit harder than others?
Looking at your backlink profile...http://www.opensiteexplorer.org/links?site=www.translationsoftware4u.com%2F
... I see a number of high quality links. Unfortunately, I also see a huge number of low-quality directory links. For example (I purposely didn't include hyperlinks)
- http://www.premiumsites.org/business/business_services/
- http://www.link-city.com/reciprocal_links/Education.htm
Many of these appear to have been de-indexed in the past few months. I might look for a message in Google Webmaster about unnatural linking activity.
Directory links like these were completely natural a short time ago, but Google has been particularly harsh on them lately, along with article distribution sites, which also make up a significant portion of your backlink profile.
If you can:
- Try to clean up as many of these types of links as possible
- Document everything
- Submit a reconsideration request with Google
- Wait for their response.
Once you submit a reconsideration request, Google should be a little more specific (although not much) about what they would like you to address. In the meantime, continue to build high quality, authoritative editorial links that your competitors can't match.
Hope this helps, best of luck with your SEO!