Technical Analysis Daily: EUR/USD

EUR/USD 1.2524

EUR/USD Open 1.2435 High 1.2583 Low 1.2425 Close 1.2451

Yesterday the Euro/Dollar made an insignifican rising effort. After breaking up of the formed triangle and reaching a peak at 1.2583, the currency pair dropped and broke out of the triangle downwards and closed at 1.2451. This should support the continuation of bearish scenario for now. The signals coming are descending and we may expect testing of the 1.2330 area soon again. Immediate resistance is seen at 1.2560 followed by 1.2605. First support is at 1.2395. The CCI indicator is in the oversold zone and on its way to cross up the 100 line on the one hour chart, therefore we can expect little upward adjustment.

Technical resistance levels: 1.2560 1.2605 1.2800
Technical support levels: 1.2445 1.2355 1.2235

Trading range: 1.2535 - 1.2470

Trend: Downward

Sell at 1.2524 SL 1.2554 TP 1.2484

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