Intraday trading recommendations :
- The EUR/USD pair in the short term.
- According to the previous events, the price has still moved between 1.3575 and 1.3600. The level of 1.3624 will indicate strong resistance, and minor resistance has set at 1.3597. Moreover, the price will form a new strong spot at this level. Also, it should be noted that the price of 1.3624 is coinciding with the weekly pivot point in H1 chart. Therefore, it will be of prudence to sell at 1.3624 or 1.3597 in the short term with the first target at 1.3585, then it will continue towards 1.3565 in order to test the weekly support 1. On the other hand, the level of 1.3565 will indicate strong support. Additionally, this price will form a double bottom at 1.3562 (on July 4, 2014). For that reason, it will be very profitable to buy at 1.3562 with the first target at 1.3600, then continue towards 1.3625. And the stop loss should be placed below 1.3560 at the level of 1.3533.
- Please check out the market volatility before investing, because the price may have already been reached and scenarios might have become invalidated.
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 July 4, 2014 . Thanks for your support on Technical analysis of EUR/USD for July 4, 2014
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