The ascending triangle on the 1 hour chart on Friday gave good signals for upward adjustment for the Euro/Dollar. The currency couple increased, reaching a top at 1.2860, but failed to close the week above the key level 1.2910. On the 1 hour chart we have a bullish channel, and earlier today quotes tested and broke upwards the resistance line 1.2940. Short signals are ascending, but in the long term remain descending. The crucial resistance at 1.2850 was also penetrated, which may cause further increasing scenario towards 1.3000. Immediate resistance is 1.2780. Break at that level may lead to a continuation of the upward adjustment towards 1.3130. The CCI indicator crossed up the 100 line and is upwards on the 1 hour chart.
Technical resistance levels: 1.3000 1. 3130 1.3255
Technical support levels: 1.2780 1.2560 1.2425
Trading range: 1.2865 - 1.2925
Buy at 1.2875 SL 1.2845 TP 1.2915
On Friday we made +18 pips profit on EUR/USD from the following signal:
5:48 GMT Buy EUR/USD at 1.2586 SL 1.2560 TP 1.2636 exited at 6:28 GMT
Total on Friday +148, as shown at www.zifx.com/performance.php