EUR/USD 1.3251 - 6 May

EUR/USD Open 1.3314 High 1.3432 Low 1.3245 Close 1.3324

Euro/Dollar failed to break the key resistance 1.3432 yesterday, and corrected downwards, closing at 1.3324, and dropping down to 1.3245 this morning. Despite the returning of the risk appetite to the market we see that the Euro is currently trading within the range 1.3245 - 1.3432. Further rise to next resistance level 1.3545 is possible if the European currency breaks the first psychological level. Immediate support is the downward trend line that is passing at 1.3245. As long as this level gives a good support, we can expect ascending continuation. Strengthening under 1.3245 will signal for decrease of the currency couple. The CCI indicator is in the oversold area on the 4 hour chart, suggesting upward pressure.

Technical resistance levels: 1.3430 1.3545 1.3650

Technical support levels: 1.3245 1.3150 1.3030

Trading range: 1.3240 - 1.3305

Trend: Upward

Buy at 1.3251 SL 1.3221 TP 1.3291

Yesterday we made +13 pips profit on EUR/USD from the following signal:

5:43 GMT+1 Buy EUR/USD at 1.3379 SL 1.3353 TP 1.3429 reached at 5:47 GMT

Total yesterday +146, as shown at www.zifx.com/performance.php