Overview:
- The EUR/USD pair has broken a major support at the level of 1.3643. But in case the daily pivot point is at the 1.3587 level, then the market will indicate a bearish opportunity below this price. Additionally, it is now approaching to it; therefore, it will probably start downside movement at this area and recover again. So the market will indicate a bearish opportunity at the price of 1.3590 (below 1.3590 look for further downside) and it will be a good sign to sell at this spot with a first target of 1.3555, and continue towards 1.3510. However, if a break in 1.3643 takes place, then it will be a good area for placing the stop loss.
Intraday technical levels:
- Projected high:1,3871
- Breakout (buy stop):1,3816
- Strong resistance (sell limit):1,3786
- Current pivot:1,3603
- Strong support (buy limit):1,3420
- Breakout (sell stop):1,3395
- Projected low:1,3345
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/USD for January 31, 2014 . Thanks for your support on Technical analysis of EUR/USD for January 31, 2014
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