Euro/Dollar continued decreasing on Monday with over 250 pips. On the 1 hour chart the quotes tested the trend line as a support again, which is still holding. Technically the European currency is still under downward pressure and if the trend line is broken downwards, we may see further descending momentum towards the key support level 1.3700. Immediate support is 1.3750. Break below this level may trigger a further bearish momentum. The nearest resistance is 1.3885, a break of which may renew the upward trend of the Euro. The CCI indicator is about to cross down the 100 line on the 4 hour and daily charts, assuming potential decreasing pressure, and up on the 1 hour chart, suggesting insignificant upward correction.
Technical resistance levels: 1.3885 1.3960 1.4100
Technical support levels: 1.3750 1.3620 1.3490
Trading range: 1.3825 - 1.3760
Sell at 1.3812 SL 1.3842 TP 1.3772
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:40 GMT+1 Sell EUR/USD at 1.3960 SL 1.3986 TP 1.3910 TP reached at 7:00 GMT
Total yesterday +163, as shown at www.zifx.com/performance.php