EUR/USD 1.3972 - 29 May

EUR/USD Open 1.3928 High 1.3997 Low 1.3794 Close 1.3939

The battle between bulls and bears reflected on the level of resistance 1.4000 and the trend line on the 1 hour chart, which was won by the buyers yesterday. As a result the trend line support was broken upwards. This should cause further ascending pressure with possible testing of the key resistance level at 1.4165 in the near future. Rising prospects in the medium term period are still intact and the decreasing momentum is still seen as a correctional short term secondary trend. Immediate support is yesterday's bottom at 1.3795. The CCI indicator just crossed up the 100 line on the daily chart, suggesting a potential upward impulse.

Technical resistance levels: 1.4045 1.4165 1.4285

Technical support levels: 1.3795 1.3660 1.3545

Trading range: 1.3960 - 1.4025

Trend: Upward

Buy at 1.3972 SL 1.3942 TP 1.4012

Yesterday we made +15 pips profit on EUR/USD from the following signal:

5:45 GMT+1 Sell EUR/USD at 1.3824 SL 1.3850 TP 1.3774 exited at 5:49 GMT

Total yesterday +161, as shown at www.zifx.com/performance.php