EUR/USD 1.2600 - 18 February

EUR/USD Open 1.2591 High 1.2798 Low 1.2562 Close 1.2583

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

Trend: Downward

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