Overview:
- The EUR/USD pair broke major resistance at 1.1269 last week. Also, the pivot point is calculated at 1.1269 this week. Therefore it will probably start an upside movement in this area and recover again. So, the market will indicate a bullish opportunity at the level of 1.1269 and it will be a good sign to buy at this spot with the first target of 1.1370 and continue towards 1.1418 in order to test the double top. On the other hand, if a break of 1.1269 happens, then it will be a good location for placing stop loss. Buy above the level of 1.1270 with the first target of 1.1370; it might resume to 1.1418.
Trading recommendations:
- According to previous events, the EUR/USD pair is still moving between 1.1269 and 1.1418.
- Buy above the level of 1.1270 with the first target of 1.1370; it might resume to 1.1418.
- Below the level of 1.1418, look for further downside with the 1.1270 target.
The weekly technical levels of the EUR/USD pair.
