In March Euro/Dollar sharply rose and tested the resistance at 1.3725. Last week the European currency made a downward correction, after failing to hold above 1.3725. Finally the currency couple made the break down of the trading range 1.3432 - 1.3730. On the weekly chart EUR/USD formed a convergence, and then sharply corrected downwards. On the daily chart the risk of recovery towards the region of 1.3850 is maintained until the currency couple holds above 1.3180. Going under 1.3180 may lead to decrease of the Euro with short term objectives towards the region of 1.3050, followed by 1.2920. Strengthening above 1.3365 will signal for growth.
Technical resistance levels: 1.3290 1.3425 1.3590
Technical support levels: 1.3125 1.3010 1.2900
Trading range: 1.3220 - 1.3280
Buy at 1.3230 SL 1.3200 TP 1.3270
Yesterday we made +46 pips profit on EUR/USD from the following signal:
5:47 GMT Sell EUR/USD at 1.3242 SL 1.3268 TP 1.3192 exited at 6:09 GMT
Total yesterday +194, as shown at www.zifx.com/performance.php