Trading recommendations:
- According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3350 and 1.3420. Moreover, it should be noted that the market was so stable and the trend was also very clear (downward). Similarly, the range was around 107 pips last week. Additionally, the value of 50% Fibonacci retracement levels is 1.3550 for that the key level of 1.3550 is represented for downtrend to confirm the bearish market (breakout). Therefore, sell deals are recommended below the 1.3550 level with targets at 1.3375 in order to test the weekly support 1, and it will resume towards 1.32 to retest the psychological level on November 4 - 8, 2013.
Notes:
- Supports: 1.3293 and 1.3200
- Breakout level (resistance) sets at the level of 1.3550
- Range: 95pips - 120pips pips.
- Trend: bearish market (in the short term).
