On Friday Euro/Dollar failed to keep the bullish momentum. Despite the bad news about unemployment in the U.S. Dollar strengthened against the Euro. On a daily basis a second descending triangle is formed with minimum target 1.3020. Yesterday's bottom was 1.3296, and closing price 1.3356. Today began with a test at lower levels. For the moment levels around 1.3235 are seen as support for the currency couple. If broken, next potential support can be expected to be reached the around 1.3080. Candles on the four hour chart show wavering movement, but the week is still in the beginning. This week's movements will be driven by data on retail and inflation indices (PPI, CPI) in the USA. The CCI indicator crosses down the 100 line on the daily chart indicating downward direction pressure.
Technical resistance levels: 1.3375 1.3445 1.3560
Technical support levels: 1.3235 1.3080 1.3000
Trading range: 1.3295 - 1.3230
Sell at 1.3282 SL 1.3312 TP 1.3242
Yesterday we made +34 pips profit on EUR/USD from the following signal:
5:47 GMT Sell EUR/USD at 1.3412 SL 1.3438 TP 1.3362 exited at 7:37 GMT
Total yesterday +138, as shown at www.zifx.com/performance.php