Euro/Dollar continues to move around the levels of support, but the decreasing trend is not yet confirmed. Current indicators suggest that the currency couple is in the oversold area, which may lead to an upward correction towards 1.2900, before returning to 1.2600, followed by 1.2480. Trading range today is between the key support 1.2600 and the resistance 1.2900. Trend is still descending, while 1.2895 remains untouched with targets 1.2450, followed by 1.2230. The CCI indicator however has crossed up the 100 line, suggesting short term ascending pressure.
Technical resistance levels: 1.2900 1. 3000 1.3130
Technical support levels: 1.2650 1.2540 1.2425
Trading range: 1.2810 - 1.2875
Buy at 1.2821 SL 1.2791 TP 1.2861
Yesterday we made +6 pips profit on EUR/USD from the following signal:
5:47 GMT Buy EUR/USD at 1.2740 SL 1.2714 TP 1.2790 exited at 5:55 GMT
Total yesterday +140, as shown at www.zifx.com/performance.php