Technical Overview:
The EUR/USD pair has made another higher high as it hit the technical resistance at the level of 1.1406. Despite the overbought conditions, the momentum is still strong and positive, so the bounce is getting extended. In the case of a local pull-back, the nearest technical support is seen at the level of 1.1361 and 1.1347. On the other hand, the nearest technical resistance is seen at the level of 1.1419.
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.
