EUR/USD 1.3975 - 27 May

EUR/USD Open 1.3990 High 1.4020 Low 1.3863 Close 1.3984

Yesterday Euro/Dollar continued the downward correction, reaching a bottom at 1.3863, and closing the day higher at 1.3984. This is a normal correction after the considerable bullish momentum last week. We may see further downward correction, but the medium term prospects are ascending, if the currency couple holds above 1.3740. Short term signals, however, are neutral. Immediate support is yesterday's bottom 1.3865, followed by 1.3750. First resistance is 1.4045. Break above this level may cause a further bullish momentum towards 1.4165. The CCI indicator is in the overbought zone and downwards of the daily chart, assuming potential descending pressure.

Technical resistance levels: 1.4045 1.4165 1.4285

Technical support levels: 1.3865 1.3750 1.3690

Trading range: 1.3985 - 1.3925

Trend: Downward

Sell at 1.3975 SL 1.4005 TP 1.3935

Yesterday we made +46 pips profit on EUR/USD from the following signal:

5:43 GMT+1 Sell EUR/USD at 1.3978 SL 1.4004 TP 1.3928 exited at 7:54 GMT

Total yesterday +172, as shown at www.zifx.com/performance.php