EUR/USD 1.3986 - 7 July

EUR/USD Open 1.3973 High 1.3997 Low 1.3887 Close 1.3981

Euro/Dollar failed to continue the upward movement on Monday. The currency couple reached a top at 1.3997, descended down to 1.3887, and closed the day at 1.3981. The Dollar was backed by the lower risk investments, which weakened the Euro. Technically the trend line was penetrated downwards on the 1 hour chart, indicating potential descending perspectives. Signals are decreasing in the short term with possible test of the 1.3885 support level, but the medium term views remain unclear, as the European currency is still trading within the 1.3760 - 1.4165 range. The nearest resistance is 1.4000, the break may give us an increasing scenario towards the next 1.4125 objective.

Technical resistance levels: 1.4000 1.4125 1.4250

Technical support levels: 1.3885 1.3770 1.3650

Trading range: 1.4000 - 1.3935

Trend: Downward

Sell at 1.3986 SL 1.4016 TP 1.3946

Yesterday we made +50 pips profit on EUR/USD from the following signal:

5:42 GMT+1 Sell EUR/USD at 1.3985 SL 1.4011 TP 1.3935 TP reached at 8:03 GMT

Total yesterday +202, as shown at