Technical market overview:
After the bounce from the lower channel boundary around the level of 1.1235, the EUR/USD pair has hit the technical resistance at the level of 1.1285 and even made a local high at the level of 1.1295. This means the corrective channel dynamic support and resistance is being respected by the market, so the next target for bulls is seen at the level of 1.1303 or even 1.1331.
Weekly Pivot Points:
WR3 - 1.1316
WR2 - 1.1286
WR1 - 1.1248
Weekly Pivot - 1.1215
WS1 - 1.1175
WS2 - 1.1141
WS3 - 1.1100
Trading recommendations:
The trend remains bearish, so the level of 1.1284 might be a good place to re-enter the sell orders with a tight protective stop loss. If this level is violated clearly, short-term buy orders can be opened with a target at the level of 1.1331.
