Euro/Dollar made significant upward movement on Friday. The 1.2990 daily top and resistance was tested after quotes reached the bottom 1.2751, and closed the day at 1.2938. Ascending channel was broken downwards. The signals are still descending in the short term, but unclear in the longer term. The CCI indicator almost went up the 100 line on the 1 hour chart, assuming a potential increasing pressure with testing of the descending channel. Break under 1.2690 will cause further bearish momentum with goals towards the region of 1.2520. Immediate resistance is seen at 1.2990.
Technical resistance levels: 1.2895 1. 3010 1.3145
Technical support levels: 1.2750 1.2635 1.2515
Trading range: 1.2920 - 1.2855
Sell at 1.2907 SL 1.2937 TP 1.2867
On Friday we made +47 pips profit on EUR/USD from the following signal:
5:48 GMT Sell EUR/USD at 1.2794 SL 1.2820 TP 1.2744 exited at 7:13 GMT
Total on Friday +142, as shown at www.zifx.com/performance.php