Technical analysis of EUR/USD for July 11, 2014 Trend News

Trading recommendations :

• Depending on the previous events, the price of the EUR/USD pair will be moved between the levels of 1.3585 and 1.3630.


• Buy above the price 1.3585 (100% of Fibonacci retracement levels) with the first target at 1.3629 in order to test the weekly pivot point, it might resume to 1.3667.


• Below 1.3675 (78.6% of Fibonacci retracement levels), look for further downside with the 1.3630 and 1.3580 targets.

Tools of chart :

Pair: EUR/USD.

• The trend was not so clear (sideways).


• The resistance will be set at the price of 1.3667 and the support stood at the 1.3585 price.


• We expect a range of 82 pips.


• At the level of 1.3585, a double bottom will be formed.


• The 1.3626 level is representing the weekly pivot point.


• The value of 50% Fibonacci retracement levels is: (High + Low) / 2 = 1.3642. (The key level to confirm the bullish market).


• Volatility is 122.84, so the market has called for a high volatility.

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



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