Technical analysis of EUR/USD for September 3, 2014 Trend News

Forecast :

• According to the previous events, the price of the EUR/USD pair is going to move between the levels 1.3110 and 1.3190.


• Buy above the price of 1.3109 which represents the double bottom in the long term with the first target at 1.3161 in order to test the weekly pivot point. It might resume to 1.3190 if the trend will be able to break the weekly pivot point at 1.3161.


• The stop loss should always be in account, so it will very useful to set your stop loss below support 1 at the price of 1.3068.

Notes :

• Strong resistance will be set at the level of 1.3190.


• The double top is going to set at the 1.3220 level. Currently, the double bottom is set at the price of 1.3109.


• We expect a range of 80 pips today.


• The weekly pivot point (1.3161) represents the key level this week.


• The price hit the weekly pivot point and the support 1 last week.

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



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