Overview:
The EUR/USD's support has broken and it was turned to resistance for nine days (2nd of July 2013), thus the pair has already formed a strong resistance at 1.3003. Moreover, after it couldn't close above 38.2% Fibonacci retracements levels and start signing for a bearish market, as well as the price has placed below 50% Fibonacci since fifteen days. Additionally, it should also be note that the price has still been trapped between 38.2.% Fibonacci retracement levels and 00%. Equally important the RSI and the Moving Average (100) are still calling for downtrend. Therefore, the market indicates the bearish opportunity on level of 1.3003 on H1 chart with a first target of 1.2870, and continues towards 1.2735. on the other hand, if the price closes above the resistance then the best location for placing a stop loss should be above 1.3050.
Intraday technical levels:
Date: 10/07/2013
Pair: EUR/USD
R3: 1,3008
R2: 1,2953
R1: 1,2866
PP: 1,2811
S1: 1,2724
S2: 1,2669
S3: 1,2582
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