EUR/USD 1.2841 - 12 March

EUR/USD Open 1.2804 High 1.2871 Low 1.2627 Close 1.2845

On Wednesday Euro/Dollar made an increasing effort after opening of the stock markets in Asia and Europe respectively. The currency pair reached a top at 1.2871, but closed lower on at 1.2845. On the 1 hour chart there is still minor ascending channel, signaling for an insignificant upward adjustment. Short signals are neutral, but in the long term they remain descending. Immediate resistance is represented by yesterday's top 1.2870. Break above this level may cause a further upward correction towards the region of 1.2985. Key support level remains 1.2625. We expect further decreasing signal below that level. The CCI indicator is in the neutral zone on 3 charts - 1, 4 hour, and the daily.

Technical resistance levels: 1.2870 1.2985 1.3100

Technical support levels: 1.2625 1.2555 1.2465

Trading range: 1.2855 - 1.2790

Trend: Downward

Sell at 1.2841 SL 1.2871 TP 1.2801

Yesterday we made +50 pips profit on EUR/USD from the following signal:

5:46 GMT Sell EUR/USD at 1.2683 SL 1.2709 TP 1.2633 TP reached at 6:36 GMT

Total yesterday +173, as shown at