As expected, after breaking out of the triangle formation downwards on the four hour chart the Euro/Dollar made a significant descending movement yesterday. The currency pair reached the short term targets 1.3465 and 1.3370, having reached even lower bottom at 1.3310. The signals now remain descending with targets towards the region of 1.3300. The CCI indicator, however, is in the oversold zone and in upward direction on the four hour chart, so be careful for possible ascending corrective movements and testing of 1.3600.
Technical resistance levels: 1.3620 1.3700 1.3925
Technical support levels: 1.3500 1.3405 1.3310
Trading range: 1.3530 - 1.3470
Sell at 1.3520 SL 1.3550 TP 1.3480
Yesterday we made +43 pips profit on EUR/USD from the following signal:
6:20 GMT Sell EUR/USD at 1.3551 SL 1.3577 TP 1.3501 exited at 6:31 GMT
Total yesterday +172, as shown at www.zifx.com/performance.php