Euro/Dollar climbed to the 1.3588 level on Friday morning, after which sharply decreased as expected with over 350 pips, which is a prerequisite for downward trend with targets towards 1.3100, followed by 1.3025. Current indicators suggest that the couple is in the overbought zone, which leads the currency couple to correct downwards. The trading range today is between the key support of 1.3140 and the 1.3730 resistance. Trend is still decreasing, while 1.4700 remains intact. Immediate support is the 1.3160 level. Short term resistance is at 1.3590.
Technical resistance levels: 1.3310 1.3425 1.3590
Technical support levels: 1.3160 1.3010 1.2900
Trading range: 1.3245 - 1.3180
Sell at 1.3232 SL 1.3262 TP 1.3192
On Friday we made +33 pips profit on EUR/USD from the following signal:
6:46 GMT Sell EUR/USD at 1.3581 SL 1.3607 TP 1.3531 exited at 7:29 GMT
Total on Friday +175, as shown at www.zifx.com/performance.php