Trading recommendations:
- According to the previous events, the price of EUR/USD pair is going to move between the level of 1.3570 and 1.3650.
- Buy above the level of 1.3570 (61.8% of Fibonacci retracement levels), with the first target of 1.3618 in order to form a double top in H1 chart, it might resume to the 1.3640 price. Conversely, the price may close below 1.3657 (127.2% of Fibonacci retracement levels) in H4 chart. Consequently, the price will call for a bearish market to go further towards the level of 1.3600 to test it. However, it should be noted that the stop loss should never exceed your maximum exposure amounts.
Tools of the chart:
- The market was in uptrend. Moreover, the trend was so clear because the price moved lower to 1.3490; but the price of EUR/USD pair has been rebounding higher towards the level of 1.3618.
- Range was: 136 pips (upward).
- 1.3570 is the key level to confirm the bullish market.
