Weekly technical levels of the EUR/USD pair.
Trading recommendations :
- According to previous events, the price of EUR/USD pair has still been moving between 1.3730 and 1.3680.
- Buy above the level of 1.3640 with the first target of 1.3710; it might resume to 1.3745.
- Below the level of 1.3766, look for further downside with the 1.3725 and 1.3663 targets.
Overview :
- The EUR/USD pair broke major resistance at 1.3770 last week. Also, the pivot point is calculated at 1.3707 and the pair is now moving from it. Therefore it will probably start an upside movement at this area and recover again. So, the market will indicate a bullish opportunity at the level of 1.3707 and it will be a good sign to buy at this spot with the first target of 1.3745, and continue towards 1.3774 in order to test the double top. On the other hand, if a break of 1.3640 happens, then it will be a good location for placing stop loss.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Weekly technical levels of EUR/USD for May 19-23, 2014 . Thanks for your support on Weekly technical levels of EUR/USD for May 19-23, 2014
No comments:
Post a Comment