FX.co ★ Technical analysis of EUR/USD for March 21, 2014

Forecast:

• According to the previous events, the price of the EUR/USD pair has still been moving between 1.3836 and 1.3768.
• The level of 1.3836 is representing the double top, and the weekly resistance 1 is set at the same level.
• Consequently, sell above the price of 1.3836 in the short term with the first target at 1.3777, it might resume to 1.3710 if the trend will be able to break the support at 1.3768.

Notes:

• The double top will set at the level of 1.3836.
• The major support is going to set at 1.3703.
• The minor support has set at the price of 1.3768.
• The price had hit the weekly pivot point and the support 1 this week.
• We expect a range of 80 pips today.

Intraday technical levels:

• Projected high: 1.4017
• Breakout (buy stop): 1.3962
• Strong resistance (sell limit): 1.3932
• Current pivot: 1.3800
• Strong support (buy limit): 1.3668
• Breakout (sell stop): 1.3643
• Projected low: 1.3593