EUR/USD 1.2580 - 6 March

EUR/USD Open 1.2545 High 1.2663 Low 1.2485 Close 1.2538

On Thursday Euro/Dollar moved insignificantly downwards. The currency couple fell to the bottom 1.2485, but further decreasing pulse was stopped and the Euro started climbing, closing at 1.2538. Of the 4 hour chart the European currency made the adjustment back to the 23.4% Fibonacci level, which is also a double top formation. Looks like the Euro is in a dangerous situation now, perhaps because of consolidation before the NFP data, coming up today. Short term signals are neutral, but in the long term remain descendants. Immediate resistance is seen at 1.2730. The CCI indicator went up the 100 line on the 1 hour chart, assuming potential ascending pressure, with testing of the short term resistance 1.2665.

Technical resistance levels: 1.2730 1.2815 1.2910

Technical support levels: 1.2485 1.2350 1.2190

Trading range: 1.2570 - 1.2630

Trend: Upward

Buy at 1.2580 SL 1.2550 TP 1.2620

Yesterday we made +37 pips profit on EUR/USD from the following signal:

5:45 GMT Sell EUR/USD at 1.2612 SL 1.2638 TP 1.2562 exited at 6:38 GMT

Total yesterday +131, as shown at