Euro/Dollar made a strong ascending move this morning, broke the key support level of the upward channel at 1.3229, above which it is currently trading. We should also watch the 1.3160 support level, which is a base for possible start of an upward movement, but if the level is broken downwards, the European currency may be led to 1.3010, followed by 1.2740. For confirmation of an upward trend, the currency pair should reach the 1.3295 level and make a solid base above it. Trading range today is between the key support 1.2735 and the 1.3730 resistance. Short term scenario is upwards, medium term decreasing, till 1.4710 remains untouched, with targets towards 1.3100 and 1.2980.
Technical resistance levels: 1.3295 1.3425 1.3590
Technical support levels: 1.3160 1.3010 1.2900
Trading range: 1.3250 - 1.3315
Buy at 1.3261 SL 1.3231 TP 1.3301
Yesterday we made +45 pips profit on EUR/USD from the following signal:
5:47 GMT Sell EUR/USD at 1.3210 SL 1.3236 TP 1.3160 exited at 7:01 GMT
Total yesterday +154, as shown at www.zifx.com/performance.php