On Tuesday Euro/Dollar did not make any decisive movement. The currency couple rose from the bottom 1.2812, reaching the long target and yesterday's top 1.3050, and closed lower at 1.2907. On the 1 hour chart the European currency failed to break the 61.6% Fibonacci level, after which the Dollar regained strength. Earlier this morning, the currency pair broke the secondary ascending channel and 38.3% Fibonacci in the 1.2948 region, which suggests further bearish scenario with testing of 1.2715 support level again. The CCI indicator went down the 100 line on the 4 hour chart, indicating a potential decreasing pressure.
Technical resistance levels: 1.3080 1. 3175 1.3285
Technical support levels: 1.2805 1.2700 1.2615
Trading range: 1.2930 - 1.2865
Sell at 1.2918 SL 1.2948 TP 1.2878
Yesterday we made +41 pips profit on EUR/USD from the following signal:
6:20 GMT Buy EUR/USD at 1.2847 SL 1.2821 TP 1.2897 exited at 7:04 GMT
Total yesterday +176, as shown at www.zifx.com/performance.php