EUR/USD 1.4331 - 30 December 2009
On Tuesday Euro/Dollar continued its upward movement. The currency couple made a top at 1.4457, where the bullish pressure was limited, and started dropping down to 1.4339, closing the day at 1.4352. On the 3 hour chart the quotes are testing the upper line of the triangle. Dent out of the triangle may give potential signal for further increasing scenario in the medium term. However, the longer the Euro is traded within the triangle against the Dollar, the longer the signals will remain neutral. The CCI indicator is in the overbought zone and has crossed down the 100 line on the 1 hour chart, assuming potential exhaustion of the bulls and giving downward pressure with possible test of the short term support level and this morning's bottom 1.4306. Break below this level may lead to decreasing momentum back towards 1.4215. Immediate resistance is yesterday's top 1.4457.
Technical resistance levels: 1.4457 1.4582 1.4667
Technical support levels: 1.4306 1.4215 1.4119
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:33 GMT Buy EUR/USD at 1.4371 SL 1.4345 TP 1.4421 TP reached at 7:50 GMT
Total yesterday +168, as shown in details at www.zifx.com/performance.php.