On Friday Euro/Dollar climbed from the 1.4141 bottom up to 1.4249, closing the week lower at 1.4141. There is a narrowing trading range on the 1 hour chart, indicating consolidating market with unclear direction yet. Our preferable scenario in the short term is downwards. An important key resistance upwards is Friday's peak at 1.4250 level. Break above this quote may trigger further rising impetus towards next upwards objective 1.4380. The nearest support is represented by Friday's bottom 1.4140 level. If that level is penetrated, we may see further decreasing impulse with possible test of 1.4020. The CCI indicator is neutral on the 1 hour chart, indicating calm trading.
Technical resistance levels: 1.4250 1.4380 1.4500
Technical support levels: 1.4140 1.4020 1.3900
Trading range: 1.4250 - 1.4185
Sell at 1.4236 SL 1.4266 TP 1.4196
On Friday we made +34 pips profit on EUR/USD from the following signal:
7:33 GMT+1 Buy EUR/USD at 1.4190 SL 1.4164 TP 1.4240 exited at 9:00 GMT
Total on Friday +126, as shown at www.zifx.com/performance.php