FX.co ★ Technical analysis of EUR/USD for June 6, 2014

Trading recommendations:

• The resistance of the EUR/USD pair has already set at 1.3672 on June 6, 2014. Morover, the double top sets at the level of 1.3668. Thus, we expect a range of 80 pips today because usually the last day of week shows high volatility. Therefore, it will be quite profitable to sell below this level (1.3672) for retesting this level in the short term. Hence, sell deals are recommended below the level of 1.3672 with targets at 1.3590 (the level of 1.3589 is representing the first support) and 1.3525 to reach the second support. Additionally, the descending movement will probably be lower than the 1.3525 level with the target at the double bottom. The double bottom sets at the level of 1.3504 and also coincides with the major support.