Euro/Dollar continued its downward correction yesterday and got back to the levels from Monday. The currency couple reached a peak at 1.3170, and after further decreasing, it closed significantly lower at 1.2952. Signals are neutral for now. On the 1 hour chart we can see that the Euro is moving in a range between 1.2875 and 1.3327, indicating that The European currency is in consolidation phase after the climbing from the beginning of the week. Break out of the rectangle will give us a clearer direction of movement and may give a sign for bullish correction towards 1.3480. The previous resistance trend line is still a support level. Immediate area of support is at 1.3080. Consistent movement ander this level could lead to further bearish momentum. The CCI indicator is in neutral zone on the daily and 1 hour charts.
Technical resistance levels: 1.3315 1. 3425 1.3530
Technical support levels: 1.3080 1.2980 1.2865
Trading range: 1.2925 - 1.2860
Sell at 1.2913 SL 1.2943 TP 1.2873
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:49 GMT Sell EUR/USD at 1.3121 SL 1.3147 TP 1.3071 TP reached at 7:03 GMT
Total yesterday +168, as shown at www.zifx.com/performance.php