Technical Market Overview:
The EUR/USD market has bounced towards the technical resistance zone located between the levels of 1.12345 - 1.1239 and has broken through it a little. Nevertheless, the bulls seem to be too weak to continue the bounce from the level of 1.1176 as the momentum remains weak and negative. Moreover, there is another technical resistance level just above, at 1.1249 and this one might easily cap the rally higher. The longer-term trend remains down and the market should reverse and follow the main trend soon.
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 next good level to open the sell orders is seen at 1.1234 - 1.1239 zone, which will act as a technical resistance for the price. Please keep your protective stop-loss orders tight. The first target is seen at the level of 1.1176.