Euro/Dollar had a moderate decreasing momentum yesterday. The currency couple made a bottom at 1.2898, but closed higher at 1.2919. From a technical point of view, the focus is now on the descending triangle on the 4 hour and daily charts, with key support level 1.2895. Although the European currency does not have clear direction at the moment, it continues to make lower tops and bottoms for the last 3 days. Today's expected trading range is between 1.3065 and 1.2870. Break under 1.2870 may lead to further decreasing scenario with test of 1.2750. The CCI indicator is about to cross up the 100 line on the 4 hour chart, suggesting potential increasing pressure.
Technical resistance levels: 1.3065 1.3180 1.3300
Technical support levels: 1.2870 1.2750 1.2635
Trading range: 1.2965 - 1.2900
Sell at 1.2952 SL 1.2982 TP 1.2912
Yesterday we made +42 pips profit on EUR/USD from the following signal:
5:51 GMT+1 Sell EUR/USD at 1.3016 SL 1.3042 TP 1.2966 exited at 7:39 GMT
Total yesterday +144, as shown at www.zifx.com/performance.php