Weekly technical levels the EUR/USD pair.
Notes:
It should be noted that if there is no significant news to influence the price. The market price will be moving from the pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3. We expect a new range about 130 pr 150 pips this week. The key level will set at the level of 1.3610.Trading recommendations:
As it is known, sellers are asking for a higher price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.3610. The second key level will set at 1.3650 today. Equally important, the price of the EUR/USD pair has still been moving between 1.3600 and 1.3675. Additionally, it should be noted that the range was about 75 pips last week. Furthermore, the trend was not very clear and was indicating sideways. Accordingly, we expect that the trend is going to call for a bearish market at the level of 1.3650 in H1 chart (last top). As a result, sell at the price of 1.3650 with the first target of 1.3620. It might resume to 1.36 in order to test the weekly pivot point. On the other hand, your stop loss should be placed above the 1.3650, hence it will helpful to set it at the price of 1.3690.