Euro/Dollar made an insignificant decreasing movement on Friday. The currency couple descended from 1.4025 to the bottom at 1.3885, but the downward pressure was limited and the European currency closed the week higher at 1.3919. There is still no clear movement direction and the medium term perspectives remains undefined, as downwards scenario is not confirmed yet, till we have a break below the bottom from last Wednesday and key support level 1.3830. The CCI indicator is in the oversold area and upwards of 1 hour chart, assuming potential upwards pressure with possible testing of the 1.3980 resistance level, followed by 1.4075.
Technical resistance levels: 1.3980 1.4075 1.4200
Technical support levels: 1.3830 1.3700 1.3580
Trading range: 1.3945 - 1.3880
Sell at 1.3933 SL 1.3973 TP 1.3893
On Friday we made +50 pips profit on EUR/USD from the following signal:
7:07 GMT+1 Sell EUR/USD at 1.3958 SL 1.3984 TP 1.3908 TP reached at 8:23 GMT
Total on Friday +162, as shown at www.zifx.com/performance.php