After the upward correction on Monday, yesterday Euro/Dollar held trading within 1.3122 - 1.3314 range. On the daily chart we have formed 2 hammers, followed by bullish candle. Break above the trend, the 22.8% Fibonacci level of the wave 1.2768 - 1.4714 should confirm the reverse bullish scenario with goals towards the region of 1.3480. Short term signals are rising, but the basic decreasing scenario remains valid. The nearest support is seen at 1.3100, followed by 1.2980. Immediate resistance is represented by yesterday's top 1.3315. Consistently movement above this level could lead to further bullish momentum. The CCI indicator just passed down the 100 line on the one hour chart, assuming potential decreasing pressure, towards testing the support levels.
Technical resistance levels: 1.3315 1. 3425 1.3530
Technical support levels: 1.3100 1.2980 1.2865
Trading range: 1.3230 - 1.3290
Buy at 1.3240 SL 1.3210 TP 1.3280
Yesterday we made +23 pips profit on EUR/USD from the following signal:
5:50 GMT Buy EUR/USD at 1.3221 SL 1.3195 TP 1.3271 exited at 5:55 GMT
Total yesterday +153, as shown at www.zifx.com/performance.php