The weekly technical levels of EUR/USD pair.
Overview:
The EUR/USD pair has rebounded from the minor resistance at the level of 1.3676, and it is now approaching its resistance in order to test it. Additionally, the level of 1.3676 is representing the double bottom in H1 chart. Another thought, the weekly pivot point for June 9-13, 2014 is going to set at 1.3607 for that this area will be acted as a minor support today. Consequently, the range of EUR/USD pair will be around 60 pips. So depending on previous events, the EUR/USD pair will move between the levels of 1.3680 and 1.3590 on May 9, 2014. Therefore, it will probably start upside movement at 1.3590 and recovery again. Thereupon, it will be a good sign to buy at this spot with the first target of 1.3640 and second target at the level of 1.3676 to form the double top and continue towards 1.3711 (it should be noted that this level will form the weekly resistance 1) tomorrow. On the other hand, in case of a break of 1.3540, a good place for stop loss will be below 1.3520.