EUR/USD 1.2625 - 3 March

EUR/USD Open 1.2561 High 1.2667 Low 1.2543 Close 1.2576

Euro/Dollar did not make significant movement on Monday. The currency couple opened the week at yesterday's top 1.2667, and traded down to the bottom1.2543, closing at 1.2576. On the 1 hour chart there is a symmetrical triangle, which indicates consolidation phase. Currently signals are neutral. Immediate support is 1.2540. Break below this level may cause further descending towards 1.2410. First resistance is yesterday's top 1.2670. Closure over the last Tuesday's top will be needed to confirm that a short term bottom is formed. The CCI indicator is down towards the 100 line of the 1 hour chart, suggesting potential descending pressure.

Technical resistance levels: 1.2800 1.2910 1.3000

Technical support levels: 1.2540 1.2410 1.2300

Trading range: 1.2615 - 1.2675

Trend: Upward

Buy at 1.2625 SL 1.2595 TP 1.2665

Yesterday we made +48 pips profit on EUR/USD from the following signal:

6:54 GMT Sell EUR/USD at 1.2618 SL 1.2644 TP 1.2568 exited at 7:35 GMT

Total yesterday +153, as shown at