In December the Euro/Dollar rose sharply and reached the 1.4690 resistance, but strengthening beyond that level could not be achieved, after which descending resumed. Last week dropping of the currency couple accelerated and the European currency reached record low levels from the beginning of the year. On the weekly chart pressure for further decrease of the EUR/USD remains valid, with targets towards the region of 1.2500. On the daily chart the descending pressure will be maintained while the Euro is under the area resistance 1.3180. Going under 1.2800 would signal for further downward trend. Strengthening above 1.3250 may provoke rise of the Euro. On the one hour chart the CCI indicator has crossed up the 100 line, signaling for upward possible continuation of yesterday's upward impulse.
Technical resistance levels: 1.3270 1. 3365 1.3500
Technical support levels: 1.3100 1.2980 1.2865
Trading range: 1.3255 - 1.3190
Sell at 1.3241 SL 1.3271 TP 1.3201
Yesterday we made +8 pips profit on EUR/USD from the following signal:
5:45 GMT Sell EUR/USD at 1.2914 SL 1.2940 TP 1.2864 exited at 5:48 GMT
Total yesterday +140, as shown at www.zifx.com/performance.php