Technical Market Outlook:
The EUR/USD pair has been testing the level of 1.1236 for the last 12 hours. This level is the key short-term support level for the price, so any violation of this level would lead to the test of another technical support located at 1.1190 or 1.1148. Please notice, the market is coming off the overbought levels and the momentum indicator is still weak and negative. So far then there is no reversal signal for bulls and traders should keep an eye on the 1.1190 - 1.1148 zone for next 24h.
Weekly Pivot Points:
WR3 - 1.1560
WR2 - 1.1485
WR1 - 1.1355
Weekly Pivot - 1.1283
WS1 - 1.1138
WS2 - 1.1066
WS3 - 1.0927
Trading Recommendations:
On the EUR/USD pair, the main long-term trend is down, but the local up trend continues. The key long-term technical support is seen at the level of 1.0336 and the key long-term technical resistance is seen at the level of 1.1540. Only if one of this levels is clearly violated, the main trend might reverse (1.1540) or accelerate (1.0336).
