Weakness of the Dollar continues to grow as the Euro gained over 700 pips for the last 3 business days. The currency couple broke the resistance at 1.3650 - which is 51.8% Fibonacci correction of the wave 1.2461 - 1.4713. Nearest resistance level is seen at 1.3780, followed by 1.3900, which is 62.6% of the above correction. In the opposite direction the Euro/Dollar is likely to remain under pressure for the coming days, but the medium term trend remains positive, if the Euro overcomes the 1.3780 resistance, with targets towards 1.4150 and 1.4330 in the coming weeks. Downwards the Euro is supported by 1.3550, 1.3420 and 1.3110 levels.
Technical resistance levels: 1.3780 1.3900 1.4150
Technical support levels: 1.3550 1.3420 1.3110
Trading range: 1.3640 - 1.3705
Buy at 1.3652 SL 1.3622 TP 1.3692
On Friday we made +50 pips profit on EUR/USD from the following signal:
5:51 GMT Buy EUR/USD at 1.3641 SL 1.3615 TP 1.3691 TP reached at 7:36 GMT
Total on Friday +186, as shown at www.zifx.com/performance.php