Technical Market Overview:
The EUR/USD pair is testing the 61% Fibonacci retracement located at the level of 1.1326 and even a local high was made at the level of 1.1338. The market has broken above the technical resistance zone located between the levels of 1.1316- 1.1325 and is still trading above the orange trendline, so the bulls are temporary in control over the market. No reversal price or candlestick pattern has occurred yet and the next target is seen at the level of 1.1353.
Weekly Pivot Points:
WR3 - 1.1534
WR2 - 1.1453
WR1 - 1.1330
Weekly Pivot - 1.1249
WS1 - 1.1129
WS2 - 1.1042
WS3 - 1.0913
Trading Recommendations:
The sell orders should be opened only is the price will break through the orange trend line. Please keep your protective stop-loss orders tight. The first target is seen at the level of 1.1176.
