Euro/Dollar decreasing movement continued yesterday with nearly 200 pips. The currency couple broke the key support level 1.3860, reaching a bottom at 1.3808, closing the day at 1.3897. This could change the medium term increasing scenario. On the 1 hour chart can be seen how current quotes test the bullish trend line as a support level. Break under the trend line may trigger further decreasing scenario. Short term signals are descending with targets towards 1.3690. The CCI indicator in the oversold zone and about to cross up the 100 line on the 1 hour chart, so be careful for potential upward pressure with possible test of the 1.4000 resistance level.
Technical resistance levels: 1.4000 1.4135 1.4270
Technical support levels: 1.3800 1.3690 1.3585
Trading range: 1.3885 - 1.3820
Sell at 1.3872 SL 1.3902 TP 1.3832
Yesterday we made +50 pips profit on EUR/USD from the following signal:
6:08 GMT+1 Sell EUR/USD at 1.3996 SL 1.4022 TP 1.3946 TP reached at 7:14 GMT
Total yesterday +182, as shown at www.zifx.com/performance.php