Technical analysis of EUR/USD for March 6, 2014 Trend News

• Daily pivot point: 1.3730.

Overview :

• The daily pivot point of the EUR/USD pair will set at the level of 1.3730. Also, the weekly pivot point set at the 1.3756 price for March 3-7, 2014. Consequently, the market has still been calling for downward because the price has set below the weekly pivot point at 1.3756 since yesterday. Accordingly, if the trend fails to close above the level of 1.3760, then it will be a good opportunity to sell below 1.3756 with the first target at 1.3688 (this level is going to represent the weekly support 1), then it will be continued in downtrend towards 1.3643 in order to test the double bottom on March 6, 2014. On the other hand, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. Consequently, the best location to set your stop loss should be placed above the level of 1.3794 (the daily resistance 3).

Intraday technical levels :

Date and Time: 6/03/2014 10:35

Pair: EUR/USD

• R3: 1.3794


• R2: 1.3771


• R1: 1.3753


• PP: 1.3730


• S1: 1.3712


• S2: 1.3689


• S3: 1.3671

The material has been provided by InstaForex Company - www.instaforex.com



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