In February, Euro/Dollar consolidated after its sharp fall in January. The currency couple closed the months virtually unchanged, which carries some uncertainty for the further directions. Last week EUR/USD failed to develop a downward trend and closed the week almost without change. On the weekly chart the risk of further decline remains valid until the pair is under 1.2900, but in meanwhile convergence is not excluded. On the daily chart the European currency again failed to close the day under 1.2550 and formed divergence. Going under 1.2600 would give decreasing signals. Strengthening above 1.2750 may provoke a rise of the Euro.
Technical resistance levels: 1.2750 1.2840 1.2955
Technical support levels: 1.2465 1.2310 1.2190
Trading range: 1.2730 - 1.2665
Sell at 1.2716 SL 1.2746 TP 1.2676
Yesterday we made +21 pips profit on EUR/USD from the following signal:
6:19 GMT Sell EUR/USD at 1.2642 SL 1.2668 TP 1.2592 exited at 7:08 GMT
Total today +143, on Friday +93, as shown at www.zifx.com/performance.php