Euro/Dollar made downward correction on Monday as expected. The currency couple reached a peak at 1.4049 and closed at 1.4013. On the 1 hour chart we have a valid ascending channel, indicating strong bullish power during last week's trading. The nearest resistance is 1.4075. Break above this level may lead to further upward movement with targets towards the region of 1.4180. The CCI indicator, however, is in the overbought zone and downwards of the 4 hour chart, so be careful for a potential continuation of the descending rebound with possible test of the immediate support 1.3930. Break below this level may lead to further downward correction towards 1.3830.
Technical resistance levels: 1.4075 1.4180 1.4300
Technical support levels: 1.3930 1.3830 1.3690
Trading range: 1.3995 - 1.3930
Sell at 1.3984 SL 1.4014 TP 1.3944
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:42 GMT+1 Buy EUR/USD at 1.3991 SL 1.3965 TP 1.4041 exited at 7:12 GMT
Total yesterday +128, as shown at www.zifx.com/performance.php