The wekly technical levels for EUR/USD pair:
As it is known, we use historic prices to determine future prices. Thereupon, according to the previous events and news, the price of the EUR/USD pair has been still moving between the ratio of 61.8% Fibonacci retracement levels (at the level of 1.0826) and 100% Fibonacci retracement (at the level of 1.1041). In particular, the EUR/USD pair will be able to form a double top at the level of 1.1041. Consequently, it will be good to sell below the price of 1.1041 with the first target of 1.0900 to test a minor support on March 24, 2015. Additionally, if the trend can break the minor support at the price of 1.0900, it might resume to 1.0780 in order to test the weekly pivot point. On the other hand, the stop loss should be set above the price of 1.1083. Nevertheless, check out the market volatility before investing because the sight price may have already been reached and scenarios become invalid.
The material has been provided by InstaForex Company - www.instaforex.com
