After the downwards movement last week, Euro/Dollar started climbing from Thursday. This is not surprising as the long term prospects remain bullish. On the 4 hour chart there is a formed a rectangle between 1.3860 an 1.4170, indicating consolidation. Currently the European currency is trading neutrally. Immediate resistance is 1.4170. Break above this level may cause further ascending momentum towards next target 1.4285. The nearest support is 1.3975, followed by 1.3860. The CCI indicator is in the neutral zone of the 4 hour chart.
Technical resistance levels: 1.4170 1.4285 1.4400
Technical support levels: 1.3975 1.3860 1.3740
Trading range: 1.4125 - 1.4190
Buy at 1.4137 SL 1.4107 TP 1.4177
On Friday we made +30 pips profit on EUR/USD from the following signal:
5:49 GMT+1 Buy EUR/USD at 1.3987 SL 1.3961 TP 1.4037 exited at 8:35 GMT
Total on Friday +116, as shown at www.zifx.com/performance.php