Euro/Dollar made significant upward movement on Wednesday. The currency couple decreased to the bottom 1.3806, but further bearish impetus was rejected as the European currency rose sharply to the top 1.3977, closing at 1.3943. Signals are neutral for now, but there is still potential for the decreasing scenario to be renewed, especially if the quotes consistently move under 1.3800. Dent at the above key level downwards may trigger further bearish movement with targets towards 1.3650. The nearest resistance is yesterday's top at 1.3975, followed by 1.4090.
Technical resistance levels: 1.3975 1.4090 1.4200
Technical support levels: 1.3800 1.3650 1.3490
Trading range: 1.3915 - 1.3980
Buy at 1.3927 SL 1.3897 TP 1.3967
Yesterday we made +40 pips profit on EUR/USD from the following signal:
6:41 GMT+1 Buy EUR/USD at 1.3887 SL 1.3861 TP 1.3937 exited at 7:54 GMT
Total yesterday +151, as shown at www.zifx.com/performance.php