On Friday Euro/Dollar made an insignificant upward movement. After breaking the key resistance level at 1.3450, the currency pair reached a peak at 1.3488 but closed lower at 1.3479. Short term signals remain upwards, but with increased attention, as on the 4 hour chart there is a strong resistance trend line and a hanged formation, which is an indication of a potential descent with testing of the support 1.3380.
Breaking up the trend line will confirm the ascending scenario with targets towards the region of 1.3590, followed by 1.3700. The CCI indicator is in the overbought zone and downwards on the 4 hour chart, suggesting secondary minor descending signals. Technical resistance levels: 1.3590 1.3700 1.3830 Technical support levels: 1.3380 1.3230 1.3100
