In April Euro/Dollar consolidated, but developing growth above the line of the descending trend could not be achieved. Last week the Euro recovered the losses it suffered earlier in the week. On the weekly chart the currency couple failed to develop growth and to remain above the middle term decreasing trend line at 1.3450, which indicates that sustained growth will not come for the time being. On the daily chart the European currency tried to climb several times, but every next top was lower than the previous, which carries the risk of further decline. Strengthening above 1.3350 will signal for growth. Going under 1.2980 will form decreasing signals.
Technical resistance levels: 1.3350 1.3465 1.3580
Technical support levels: 1.2980 1.2890 1.2800
Trading range: 1.3015 - 1.2950
Sell at 1.3003 SL 1.3033 TP 1.2963
Yesterday we made +30 pips profit on EUR/USD from the following signal:
5:46 GMT+1 Sell EUR/USD at 1.3165 SL 1.3191 TP 1.3115 exited at 7:39 GMT
Total yesterday +151, as shown at www.zifx.com/performance.php