The weekly technical levels of EUR/USD.
Trading recommendations :
- The EUR/USD pair is still moving between 1.3615 and 1.3563. Thus, it should be noted that the weekly pivot point will set at the level of 1.3581. Right now, the current price is around the level of 1.3581. Moreover, the weekly point has already formed a psychological level at this area. Therefore, buy at the level of 1.3527 (the weekly support one) with the first target at the 1.3592 price (the level of 1.3592 is representing the ratio of 61.8% Fibonacci retracement levels) , then it will call for uptrend in order to continue its bullish movement towards 1.3642 to test the double top in H1 chart. Notwithstanding, the stop loss should be placed at the level of 1.3503. If the trend fails to close above the level of 1.3636, it will a good sign to sell at this level in the short term with targets at 1.36, then it is going to continue towards the 1.3580 price.
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 June 23-27, 2014 . Thanks for your support on Weekly technical levels of EUR/USD for June 23-27, 2014
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