EUR/USD 1.3987 - 14 July

EUR/USD Open 1.3967 High 1.4007 Low 1.3902 Close 1.3976

Euro/Dollar failed to continue the downward movement on Monday. The currency couple made a bottom at 1.3902, than climbed up to the 1.4004 top, closing the day at 1.3976. On the 1 hour chart is seen that the European currency is now trying to test again the 1.4010 resistance level. In the medium term the pair has no clear direction, while it trades indecisively within the 1.3850 - 1.4170 range. Consistent movement above 1.4050 may trigger further bullish pressure with possible test of 1.4200. Immediate support is represented by yesterday's bottom 1.3900. followed by 1.3745. The CCI indicator is in the overbought zone and downwards of the 1 hour chart, suggesting potential descending pressure.

Technical resistance levels: 1.4010 1.4135 1.4250

Technical support levels: 1.3900 1.3780 1.3655

Trading range: 1.4000 - 1.3935

Trend: Downward

Sell at 1.3987 SL 1.4017 TP 1.3947

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

5:43 GMT+1 Buy EUR/USD at 1.3928 SL 1.3902 TP 1.3978 exited at 5:47 GMT

Total yesterday +88, as shown at www.zifx.com/performance.php