Technical Market Overview:
After a failure to break through the technical resistance, the EUR/USD pair has broken through the key technical support at the level of 1.1176 and made a new local low at the level of 1.1141. The downtrend resumed as anticipated despite the oversold market conditions. The momentum is weak and negative, so the next target for bears is seen at the level of 1.1118.
Weekly Pivot Points:
WR3 - 1.1384
WR2 - 1.1352
WR1 - 1.1289
Weekly Pivot - 1.1254
WS1 - 1.1188
WS2 - 1.1157
WS3 - 1.1092
Trading recommendations:
The take profit level for sell orders has been hit (technical support at the level of 1.1176) and now all sell orders should be closed. If anyone still has an open sell order, the next target is seen at the level of 1.1118.
