Euro/Dollar attempt to drop yesterday, reaching a bottom at 1.3853, but further bearish impetus was rejected as the currency couple rose with nearly 250 pips, closed the day at 1.4064. Signals are neutral at the moment. Today we may have more upward pressure and any movement over the 1.4100 resistance level could trigger further increasing momentum towards 1.4235. Immediate support is represented by the 1.3975 level. Break under this level may lead to further movement downwards. The CCI indicator is in the positive zone of the 1 hour chart. If the recent rise in risk appetite continues, correlations between the Euro and interest rates and oil prices suggest that we may see a further ascending movement this week towards 1.4370.
Technical resistance levels: 1.4100 1.4235 1.4370
Technical support levels: 1.3975 1.3855 1.3730
Trading range: 1.4060 - 1.4125
Buy at 1.4074 SL 1.4044 TP 1.4114
Yesterday we made +13 pips profit on EUR/USD from the following signal:
6:28 GMT+1 Sell EUR/USD at 1.3887 SL 1.3913 TP 1.3837 exited at 7:04 GMT
Total yesterday +49, as shown at www.zifx.com/performance.php