EUR/USD 1.3644 - 15 May

EUR/USD Open 1.3633 High 1.3665 Low 1.3530 Close 1.3640

Yesterday the upward momentum of Euro/Dollar was stopped. The currency couple fell to the bottom 1.3565, than tried to rise, reaching a peak at 1.3665, but further bullish scenario was rejected and the European currency closed lower at 1.3640. Technically we have a potential downward correction, indicated by the established double top around the 1.3715 resistance. The CCI indicator passed down the 100 line on the daily chart, supporting the above scenario. Immediate support is yesterday's bottom 1.3530. Break below this level may lead to further correction with targets towards 1.3410. The nearest resistance is Wednesday's top 1.3665. General trend remains upwards, as seen on the 1 hour chart.

Technical resistance levels: 1.3665 1.3785 1.3910

Technical support levels: 1.3530 1.3410 1.3330

Trading range: 1.3655 - 1.3590

Trend: Downward

Sell at 1.3644 SL 1.3674 TP 1.3604

Yesterday we made +21 pips profit on EUR/USD from the following signal:

5:46 GMT+1 Sell EUR/USD at 1.3571 SL 1.3597 TP 1.3521 exited at 7:05 GMT

Total yesterday +113, as shown at www.zifx.com/performance.php