EUR/USD 1.3657 - 9 January

EUR/USD Open 1.3691 High 1.3787 Low 1.3541 Close 1.3701

Yesterday the Euro/Dollar made an upward adjustment of over 200 pips. The currency couple reached a peak at 1.3787 and closed at 1.3701. The significant rise was not surprising after the currency pair reached the 1.3470 support, but only a movement above 1.3875 can be seen as a potential violation of the bearish scenario. Immediate support is 1.3545. Break below this level may cause further decreasing momentum with repeated test of 1.3305. The CCI indicator is in the neutral zone on the four hour chart. Since the ECB meeting is postponed for 15 January, the Euro may benefit more with bigger demands till the above date.

Technical resistance levels: 1.3730 1.3810 1.3925

Technical support levels: 1.3545 1.3420 1.3305

Trading range: 1.3645 - 1.3710

Trend: Upward

Buy at 1.3657 SL 1.3627 TP 1.3697

Yesterday we made +38 pips profit on EUR/USD from the following signal:

5:47 GMT Buy EUR/USD at 1.3619 SL 1.3593 TP 1.3669 exited at 7:04 GMT

Total yesterday +184, as shown at