FX.co ★ Technical analysis of EUR/USD for April 3, 2014

Overview: 

• The weekly pivot point of the EUR/USD pair has set at the level of 1.3777. Also, the daily pivot point set at the same price for April 3, 2014. Consequently, the market has still been calling for downward because the price has set below the weekly pivot point at 1.3777 since yesterday. Accordingly, if the trend fails to close above the level of 1.3777, then it will be a good opportunity to sell below the weekly pivot point with the first target at 1.3704 in order to test the double bottom, then it will be continued in downtrend towards 1.3678 (this level is going to represent the weekly support 1). On the other hand, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. Consequently, the best location to set your stop loss should be placed above the double top at the level of 1.3820.

Intraday technical levels:

Date and Time:3/04/2014 11:05

Pair:EUR/USD 

• R3: 1.3867
• R2: 1.3842
• R1: 1.3803
• PP: 1.3777
• S1: 1.3739
• S2: 1.3714
• S3: 1.3675