Overview:
- The EUR/USD pair has rebounded from the minor resistance at the level of 1.1393, and it is now approaching its support in order to test it. Moreover, the price of 1.1305 is representing the weekly pivot point for October 12-16, 2015. So it will probably start an upside movement in this area and recover again. Therefore, it will be a good sign to buy at this spot with the first target of 1.1305 to form the double top and continue moving towards 1.1438 (this level will form the weekly resistance 1). On the other hand, in case the 1.1305 level is brokern, a good place for a stop loss will be below 1.1270.
The weekly technical analysis of EUR/USD pair:
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