FX.co ★ Weekly technical levels of EUR/USD for February 10-14, 2014

Weekly technical levels:

Overview:

• It should be noticed that we got a range of 166 pips last week, additionally, the EUR/USD pair hit the weekly resistance 1 and the pivot point. As a result, the market was in uptrend and formed a strong support at the level of 1.3515. It should be noted that the support is coinciding with the ratio of 23.6% Fibonacci retracement levels, and representing the weekly support 1 for February 10-14, 2014 in H1 chart. So, the price of 1.3515 is the key level to confirm the bullish market. For that, the market will probably indicate the bullish opportunity at the level of 1.3515 and the weekly support 1 will act as strong support. Thenceforward, the price of the EUR/USD pair will give a good sign to buy above 1.3515 with the first target of 1.3588 in order to test the weekly pivot point. Also, if the trend will be able to break it, hence, the trend is going to continue towards the 1.37 price.