On Friday Euro/Dollar continued its upward movement. The currency couple made a top at 1.3317 and closed the week at 1.3265. On the 4 hour chart the quotes are testing the upper line of the triangle. Dent out of the triangle may give potential signal for further increasing scenario in the medium term. However, the longer the Euro is traded within the triangle against the Dollar, the longer the signals will remain neutral. The CCI indicator is in the overbought zone and about to cross down the 100 line on the 4 hour chart, assuming potential exhaustion of the bulls and giving downward pressure with possible test of the 1.3240 short term support level. Break below this level may lead to decreasing momentum back towards 1.3120. Immediate resistance is the top from 30 April 1.3375.
Technical resistance levels: 1.3375 1.3460 1.3555
Technical support levels: 1.3240 1.3120 1.3030
Trading range: 1.3310 - 1.3370
Buy at 1.3320 SL 1.3290 TP 1.3360
On Friday we made +50 pips profit on EUR/USD from the following signal:
5:43 GMT+1 Buy EUR/USD at 1.3255 SL 1.3229 TP 1.3305 TP reached at 8:02 GMT
Total on Friday +184, as shown at www.zifx.com/performance.php