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In March Euro/Dollar sharply rose and tested the resistance 1.3750, strengthening above which could not be achieved. Last week the European currency climbed, after showing inability to overcome the support in the region of 1.3110. On the weekly chart the currency couple formed a convergence, then sharply increased, but the risk of upward correction continuation towards the region of the descending trend line at 1.3780 decreased. On the daily chart the Euro tried to resume growth after the downward adjustment. On the 4 hour chart the bearish trend line of resistance was broken upwards and has now become an important support, suggesting a rising prospect. The situation remains polysemantic. Going back below 1.3300 may provoke decline of the Euro. Strengthening above 1.3550 will signal for the increase towards 1.3690 and 1.3800.
Technical resistance levels: 1.3590 1.3700 1.3830
Technical support levels: 1.3380 1.3230 1.3100
Trading range: 1.3395 - 1.3330
Trend: Downward
Sell at 1.3381 SL 1.3411 TP 1.3341
Yesterday we made +8 pips profit on EUR/USD from the following signal:
5:49 GMT Buy EUR/USD at 1.3561 SL 1.3535 TP 1.3611 exited at 6:30 GMT
Total yesterday +142, as shown at www.zifx.com/performance.php
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