Euro/Dollar was unable to continue the rising scenario yesterday. The currency couple made a bottom at 1.2762, and closed the day at 1.2789. On the 1 hour chart we can see forming of a secondary increasing channel and the unsuccessful effort for price break of resistance line of the main descending trend. The ascending channel was broken downwards. Signals are descending in the short term with targets towards the region of 1.2690 and remain neutral in the long term. Immediate resistance is seen at 1.2895, followed by 1.3010. The CCI indicator is about to break downwards the 100 line on the daily chart, assuming potential decreasing pressure.
Technical resistance levels: 1.2895 1. 3010 1.3145
Technical support levels: 1.2750 1.2635 1.2515
Trading range: 1.2810 - 1.2745
Sell at 1.2796 SL 1.2826 TP 1.2756
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:53 GMT Sell EUR/USD at 1.2848 SL 1.2874 TP 1.2798 TP reached at 8:17 GMT
Total yesterday +168, as shown at www.zifx.com/performance.php