EUR/USD 1.4170 - 4 June

EUR/USD Open 1.4160 High 1.4329 Low 1.4112 Close 1.4158

Euro/Dollar yesterday reached a top at 1.4329, from where it collapsed down to 1.4112, closing the day at 1.4302. The CCI indicator is in the overbought zone on the 1 and 4 hour chart, suggesting possible descending pressure. Our expectations for the European currency are to correct downwards towards at least 1.4050 level, before determination of further trend. Immediate support is 1.4100. The nearest resistance is represented by yesterday's top 1.4330 level, followed by 1.4470.

Technical resistance levels: 1.4330 1.4470 1.4600

Technical support levels: 1.4100 1.3990 1.3875

Trading range: 1.4180 - 1.4120

Trend: Downward

Sell at 1.4170 SL 1.4200 TP 1.4130

Yesterday we made +19 pips profit on EUR/USD from the following signal:

5:41 GMT+1 Buy EUR/USD at 1.4311 SL 1.4285 TP 1.4361 exited at 5:47 GMT

Total yesterday +139, as shown at www.zifx.com/performance.php