Yesterday Euro/Dollar dropped sharply with around 400 pips since Monday. Yesterday the currency couple rose to the top 1.3389, then sharply dropped, reaching a bottom at 1.3235, and closing the day at 1.3272. On the 4 hour chart it is shown that this was a case of a false break of the trend line, which, of course is not unusual. Immediate support is provided by the above trend line and the Fibonacci level in the region of 1.3150. Break under this zone may cause significant decreasing scenario towards 1.3030. At the moment there is no clear trading range and we expect signs for further movement direction. Signals are neutral for now. The CCI indicator is about to cross down the 100 line on the daily chart, signaling for potential descending pressure.
Technical resistance levels: 1.3590 1.3700 1.3830
Technical support levels: 1.3150 1.3030 1.2900
Trading range: 1.3200 - 1.3135
Sell at 1.3186 SL 1.3216 TP 1.3146
Yesterday we made +42 pips profit on EUR/USD from the following signal:
5:45 GMT+1 Sell EUR/USD at 1.3382 SL 1.3408 TP 1.3332 exited at 6:29 GMT
Total yesterday +128, as shown at www.zifx.com/performance.php