Yesterday Euro/Dollar made another hesitating movement due to lack of market catalyst. The currency couple tried to decrease, reaching a bottom at 1.2562, but closed the day higher at 1.2583. On the 1 hour chart there is a formed symmetrical triangle showing the consolidation phase. The break down of the triangle during the Asian session gave us a clear downward movement direction. After breaking the 1.2600 support too earlier this morning, the signals have further decreasing scenario with targets towards 1.2500. The currency pair seems to be still fluctuating, moving under the basic support and ex resistance 1.2600. The CCI indicator went down the 100 line on the 1 hour chart, suggesting a potential descending pressure.
Technical resistance levels: 1.2670 1. 2750 1.2865
Technical support levels: 1.2500 1.2415 1.2305
Trading range: 1.2610 - 1.2550
Sell at 1.2600 SL 1.2630 TP 1.2560
Yesterday we made +44 pips profit on EUR/USD from the following signal:
5:45 GMT Sell EUR/USD at 1.2653 SL 1.2679 TP 1.2603 exited at 7:25 GMT
Total yesterday +160, as shown at www.zifx.com/performance.php