Technical Overview:
The EUR/USD pair has made a new local high above the technical resistance at the level of 1.1347. The move higher was made on strong and positive momentum, so this might be the final breakout from the Ending Diagonal formation seen on the higher timeframe charts. The next target for bulls is seen at the level of 1.1400 and then at the level of 1.1445. Please notice the market is in the overbought conditions, so a pull-back is expected into the London open.
Weekly Pivot Points:
WR3 - 1.1662
WR2 - 1.1520
WR1 - 1.1459
Weekly Pivot - 1.1309
WS1 - 1.1258
WS2 - 1.1120
WS3 - 1.1064
Trading Recommendations:
The current move up might the beginning of a larger impulsive breakout, so only the buy orders should be opened. The best strategy for this market is to open the buy orders during the local pull-back or larger corrections.
