EUR/USD 1.3600 - 12 May

EUR/USD Open 1.3588 High 1.3668 Low 1.3558 Close 1.3580

Yesterday Euro/Dollar made a downward correction after the strong bullish momentum on Friday. The currency couple reached a bottom of 1.3558 and closed the day higher at 1.3580. On the 4 hour chart the Euro is now ready to test the key 1.3690 resistance level, but only if the upward scenario is renewed. Break above this level may cause further ascending movement towards next target 1.3910. The CCI indicator, however, is in the overbought zone and downwards of the time and 1 and 4 hour hour charts, so there may be a potential downward correction continuation towards the 1.3555 support level, followed by 1.3440.

Technical resistance levels: 1.3690 1.3785 1.3910

Technical support levels: 1.3555 1.3440 1.3330

Trading range: 1.3610 - 1.3550

Trend: Downward

Sell at 1.3600 SL 1.3630 TP 1.3560

Yesterday we made +7 pips profit on EUR/USD from the following signal:

5:45 GMT+1 Buy EUR/USD at 1.3647 SL 1.3621 TP 1.3697 exited at 5:45 GMT

Total yesterday +110, as shown at www.zifx.com/performance.php