The weekly technical levels for EUR/USD pair:
Overview :
- The market of the EUR/USD pair was moving in uptrend last week. Moreover, the trend was clear because the price moved lower to 1.0765; but the price of EUR/USD pair has been rebounding higher towards the level of 1.0876. According to the previous events, the price of the EUR/USD pair is going to move between the levels of 1.0803 and 1.0943. Therefore, we expect a range of 141 pips in coming days. Also, it should be noted that the price of 1.3584 is the key level to confirm the bullish market. The level of 1.0752 represents the weekly support one. So, buy above the level of 1.0767 (the double bottom in the H1 chart), with the first target at 1.0902 in order to test the weekly pivot point at the same time frame. It might resume to the 1.0943 price. The price may close below 1.0830 (23.6% of Fibonacci retracement levels). Consequently, the price will call for a bearish market to go further towards the level of 1.0770 to test it. However, it should be noted that the stop loss should never exceed your maximum exposure amounts.
The material has been provided by InstaForex Company - www.instaforex.com
