After Euro/Dollar broke out of the trianglular formation downwards, and went under 1.2560 support, yesterday the currency couple made a significant reduction. On the 1 hour chart, we can see a good example of how a break out of the triangle with combination and the passage of the CCI indicator give us a valid descending signal. Short signals are descending with objectives towards the region of 1.2460 and 1.2360. The CCI indicator went up the 100 line on the 1 hour chart, which may be a warning for a potential ascending rebound with testing of the 1.2650 resistance level.
Technical resistance levels: 1.2650 1. 2755 1.2865
Technical support levels: 1.2460 1.2360 1.2245
Trading range: 1.2595 - 1.2530
Sell at 1.2583 SL 1.2613 TP 1.2543
Yesterday we made +20 pips profit on EUR/USD from the following signal:
6:23 GMT Sell EUR/USD at 1.2623 SL 1.2649 TP 1.2573 exited at 6:26 GMT
Total yesterday +89, as shown at www.zifx.com/performance.php