Euro/Dollar continued the bearish movement on Wednesday. The couple currency reached a top at 1.4194, than was dropping down to the 1.4007 bottom, closing the day at 1.4048. Our current preferable short term scenario is downwards. Consistent movement under the immediate support level at 1.4005 may trigger further downward pressure with possible test of the next 1.3890 support. The nearest resistance is yesterday's top at 1.4195, followed by 1.4310. The CCI indicator is neutral on the 1 hour chart, suggesting calm trading.
Technical resistance levels: 1.4195 1.4310 1.4435
Technical support levels: 1.4005 1.3890 1.3765
Trading range: 1.4070 - 1.4005
Sell at 1.4057 SL 1.4087 TP 1.4017
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:45 GMT+1 Sell EUR/USD at 1.4182 SL 1.4208 TP 1.4132 TP reached at 7:23 GMT
Total yesterday +185, as shown at www.zifx.com/performance.php