On Friday Euro/Dollar continued the upward adjustment. The currency couple made a bottom at 1.2545 and closed the week at 1.2649. On the 1 hour chart there is a triangle formation, which was broken upwards on Friday and this morning, which indicates potential for increasing momentum. However, we still have not seen a clear trend from last Monday. First short term support is around 1.2465. Break under this level may cause further weakening of the Euro towards 1.2310. Immediate resistance is represented by the 1.2750 level, followed by 1.2840. The CCI indicator is in the neutral zone on the 1 and 4 hour charts.
Technical resistance levels: 1.2750 1.2840 1.2955
Technical support levels: 1.2465 1.2310 1.2190
Trading range: 1.2675 - 1.2610
Sell at 1.2664 SL 1.2694 TP 1.2624
On Friday we made +8 pips profit on EUR/USD from the following signal:
6:04 GMT Sell EUR/USD at 1.2608 SL 1.2634 TP 1.2558 exited at 6:08 GMT
Total on Friday +93, as shown at www.zifx.com/performance.php