In January, the fall in European currency resumed and the currency pair returned under 1.3000. Last week the currency couple partly recovered, but it was still detained under 1.3000. On the weekly chart the risk of further decline remains, with targets towards the region of 1.2050, while the Euro is under 1.3250. At the same time on the daily chart Euro/Dollar consolidated, and development of the downward trend could not be achieved, as the risk of convergence formation remains. Short term signals are ascending with targets towards the the resistance levels at 1.3080 and 1.3175, which is 26.4% Fibonacci level of the drop 1.4717 - 1.2708. First support is seen at 1.2805. Going back under 1.2800 would signal for decrease.
Technical resistance levels: 1.3080 1. 3175 1.3285
Technical support levels: 1.2805 1.2700 1.2615
Trading range: 1.2840 - 1.2905
Buy at 1.2852 SL 1.2822 TP 1.2892
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:48 GMT Sell EUR/USD at 1.2934 SL 1.2960 TP 1.2884 TP reached at 6:12 GMT
Total yesterday +174, as shown at www.zifx.com/performance.php