Euro/Dollar made a significant climb last day of 2009 to the 1.4441 top, from where it started dropping down to 1.4319, closing the week at 1.4307. On the 3 hour chart after the bearish channel has ended, quotes seemed to consolidate in 1.4229 - 1.5133 range. 1.4441 appears to be an important resistance level at this stage, and this morning's bottom at 1.4258 - an important support. Signals are expected to remain neutral in the medium term and we will look for a valid break out of the above range for clearer movement direction. Break above 1.4441 may trigger further ascending impetus with possible test 1.4582, while break below 1.4306 might trigger downward impulse with targets towards 1.4215. The CCI indicator is in the overbought zone and is neutral on the 1 hour chart, assuming potential exhaustion of the bulls and giving downward pressure with possible test of the short term support level.Technical resistance levels: 1.4441 1.4582 1.4667Technical support levels: 1.4306 1.4215 1.4119
Last Thursday we made +50 pips profit on EUR/USD from the following signal:5:36 GMT Buy EUR/USD at 1.4367 SL 1.4341 TP 1.4417 TP reached at 6:47 GMTTotal last Thursday +207, as shown in details at www.zifx.com/performance.php.