FX.co ★ EUR/USD: trading recommendations for December 13, 2013

Forecast:

EUR/USD: It should be noted that we have got a weekly pivot point at the level of 1.3800. In addition, a tiny gap has opened above the weekly pivot point. Therefore, the market will probably indicate a bearish opportunity at the level of 1.3800 and the weekly resistance will act as strong resistance at the level of 1.3795. Thus, according to the previous events, the price has still been below 1.3800. Thenceforward, the area below 1.3817 (below 161.8% of Fibonacci retracement levels) looks for further downside with the 1.3715 and 1.3666 targets. However, stop loss should be placed above 1.3853.

• Support: 1.3800
• Resistance: 1.3645

Intraday technical levels:

Date: 13/12/2013

Pair: EUR/USD

• R3: 1.3855
• R2: 1.3828
• R1: 1.3790
• PP: 1.3763
• S1: 1.3725
• S2: 1.3698
• S3: 1.3660