Technical Analysis Reports

Yesterday Euro/Dollar made a slight adjustment upwards. The currency pair reached a peak at 1.2807 but closed lower at 1.2488. Our model remains mixed for now, with descending signals in the longer term while the European currency remains below 1.2880. Only consistent movement above 1.2752 might break the bearish scenario. Immediate support is seen at 1.2470. Break down of this level can give us further descending movement. Nearest resistance is seen at 1.2525. The CCI indicator is about to cross downwards the 100 line on the one hour chart, suggesting a potential decreasing pressure.

Technical resistance levels: 1.2525 1.2605 1.2800

Technical support levels: 1.2470 1.2385 1.2295

Yesterday we made +7 pips profit on EUR/USD from the following signal:

5:55 GMT Sell EUR/USD at 1.2626 SL 1.2652 TP 1.2576 exited at 6:12 GMT

Total yesterday +102, as shown at www.zifx.com/performance.php