Euro/Dollar corrected upwards yesterday. The currency couple tried further descending, reached a bottom of 1.2920, but further decreasing momentum was rejected, than it made a peak at 1.3073 and closed at 1.3000. In the long term signals still remain descending. On the 1 hour chart we can see 3 minor upward corrections of the basic current bearish trend, and it is possible for the currency pair to make another correction now. Just movement over 1.3160 could potentially violate the current descending scenario. Immediate support is represented by the level 1.2920. Break below this level may cause further bearish impetus. The CCI indicator just went down of the 100 line on the 1 hour chart, assuming potential decreasing pressure.
Technical resistance levels: 1.3070 1. 3165 1.3300
Technical support levels: 1.2920 1.2770 1.2650
Trading range: 1.2950 - 1.2885
Sell at 1.2937 SL 1.2967 TP 1.2897
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:54 GMT Sell EUR/USD at 1.3030 SL 1.3056 TP 1.2980 TP reached at 7:19 GMT
Total yesterday +157, as shown at www.zifx.com/performance.php