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
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 www.zifx.com/performance.php