Weekly pivot point:
Overview:
The EUR/USD pair has broken a major resistance at 1.9290. Moreover, it should be noted that the weekly pivot point is calculated at 1.3171 and it is now approaching from it. Therefore, an upside movement will probably start at this area and recovery will begin again. Thus, the market will indicate a bullish opportunity at the level of 1.3171, as well as it will be a good sign to buy at this spot with the first target at 1.3228 in order to form a double top and continue towards 1.3310. But, please, check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate. On other hand, if a break of 1.3150 occurs, then it will be a good location for placing stop loss at the price of 1.3100 as well as we should remind that the stop loss should never exceed your maximum exposure amounts.
