After breaking up of the the key 1.3280 level, and out of the downward triangular formation, and reaching a peak at 1.3320, the Euro/Dollar made a downward movement, reaching a bottom at 1.3096 than closing at 1.3187. Signals remain descending with next target towards the region of 1.2965. First support is seen at 1.3100, break of which may cause further bearish impetus. The CCI indicator is in the oversold zone and about to cross up the 100 line on the four hour chart, so be careful for potential of increasing pressure, with testing of the resistance levels at 1.3320 and 1.3400.
Technical resistance levels: 1.3320 1.3400 1.3560
Technical support levels: 1.3100 1.3010 1.2900
Trading range: 1.3190 - 1.3130
Sell at 1.3180 SL 1.3210 TP 1.3140
Yesterday we made +16 pips profit on EUR/USD from the following signal:
6:06 GMT Buy EUR/USD at 1.3298 SL 1.3272 TP 1.3348 exited at 6:12 GMT
Total yesterday +102, as shown at www.zifx.com/performance.php