Overview:
- The first key level will be at the level of 1.6610 and the second key level will be at the 1.1242 level. Moreover, the level of 1.1242 is representing the resistance and the 1.1078 level is going to act as support on the H1 chart. Equally important, the EUR/USD pair has been still moving between 1.1242 and 1.1108. Additionally, the range was about 246 pips last week. Furthermore, the trend was very clear and indicating a downtrend. Accordingly, we expect that the trend is going to call for the bearish market at the level of 11.1242 6610. As a result, sell at the price of 1.1242 with the first target of 1.1152, it might resume to 1.1078 in order to test the weekly support 1. On the other hand, your stop loss should be placed above the 1.6610 level. For this reason, it will be good to set it at the price of 1.1325 this week.
The weekly technical analysis of EUR/USD pair:
