EUR/USD 1.2851 - 5 February

EUR/USD Open 1.2853 High 1.3066 Low 1.2810 Close 1.2849

The past 2 days presented no surprises in the change of the Euro/Dollar course. As noted in the analysis from 2 February, expectations were for a major support at levels around 1.2705. So far this scenario is valid as the result thereof are 300 pips appreciation of the Euro against the US Dollar. The US Dollar basket signaled and supported this movement, having found a key resistance level at 1.3070 points. In this situation a test of the lower limit of the Bollinger price channel is possible to a level of 1.2705 points. This will correspond with with course within 1.2706 - 1.3059. The cheaper US Dollar rate is supported by short term stabilization of the financial indices. Immediate levels of support are 1.2790 followed by 1.2705. Short term resistance levels are seen at 1.2970, followed by 1.3070. On the daily chart a graphical configuration diamond is formed. In phase bottom, it carries information about the potential upward movement. We must not forget however, that big traders take advantage of such situations for false movements for better positioning and confusion in the market moods. The model has a greater increasing probability. The market expects concrete steps the new US administration and signals it will give for clearer direction of the currency market.

Technical resistance levels: 1.2970 1. 3070 1.3190

Technical support levels: 1.2790 1.2705 1.2565

Trading range: 1.2865 - 1.2800

Trend: Downward

Sell at 1.2851 SL 1.2881 TP 1.2811

Yesterday we made +41 pips profit on EUR/USD from the following signal:

5:50 GMT Buy EUR/USD at 1.3029 SL 1.3003 TP 1.3079 exited at 6:39 GMT

Total yesterday +162, as shown at