The Weekly technical levels of EUR/USD pair:
Short-term f orecast :
- According to previous events, the EUR/USD pair is going to move between the levels of 1.2615 and 1.2730.
- The resistance will be formed at the level of 1.2765 providing a clear signal for sell deals with the target seen at 1.2636 in order to test the weekly pivot point.
- Also, it should be noted that the double top will set at the point of 1.2790 in H1 chart.
- However, stop-loss is to be placed above the double top around the area of 1.2535.
- Additionally, the support will be formed at the level of 1.2575; therefore, it should expect a range of 255 pip this week (from the level of 1.2535 to 1.2790). It should aslo noted that the risk of 170 pips is seen to make a profit of 255 pips.
Warnings :
- Stop loss should never exceed your maximum exposure amounts.
- As a rule, the market is highly volatile if the last day had a huge volatility.
- Volatility of the last week was around 356.70.
The material has been provided by InstaForex Company - www.instaforex.com
