On Friday Euro/Dollar had a strong upward adjustment. The currency couple broke up the key resistance 1.3265, reached a top of 1.3297 and closed at 1.3239. Technically the European currency is expected to test the next resistance at 1.3300 and than 1.3395 in the short term but medium term perspectives remain unclear. Inability to hold above 1.3265 today may give again the Euro bearish impulse towards the region of the short term support 1.3120. The CCI indicator is in the overbought zone and downwards on the 4 hour chart, suggesting potential downward pressure, but is neutral on the daily chart.
Technical resistance levels: 1.3300 1.3395 1.3500
Technical support levels: 1.3120 1.3000 1.2905
Trading range: 1.3185 - 1.3120
Sell at 1.3173 SL 1.3203 TP 1.3133
On Friday we made +50 pips profit on EUR/USD from the following signal:
5:46 GMT+1 Buy EUR/USD at 1.3138 SL 1.3112 TP 1.3188 TP reached at 6:39 GMT
Total on Friday +171, as shown at www.zifx.com/performance.php