EUR/USD Open 1.4504 High 1.4549 Low 1.4409 Close 1.4514
Euro/Dollar broke up of the 1.4229 – 1.4484 range on Monday, reaching the 1.4549 top, closing the day at 1.4514. Our preferable scenario for today is bearish, and a break bellow the 1.4409 support and yesterday’s bottom would confirm the downward outlooks, and may trigger stronger descending momentum towards 1.4272. The nearest resistance is represented by Monday’s top at 1.4549. Break above it should confirm continuation of the bullish scenario with objectives towards 1.4634 and 1.4722. Dollar’s potential after the Nonfarm payrolls last Friday, shouldn’t be underestimated, and any downward impulse will not come unexpected. The CCI indicator is about to cross up the 100 line on the 1 hour chart, suggesting bullish pressure.
Technical resistance levels: 1.4549 1.4634 1.4722
Technical support levels: 1.4409 1.4272 1.4165
Trading range: 1.4505 – 1.4440
Sell at 1.4492 SL 1.4522 TP 1.4452
Written by iFOREX.bg