Intraday trading recommendations:
- To identify the resistance or support levels, it should be used historic rates to determine future prices. Therefore, the level of 1.3760 will indicate strong resistance on February 20, 2014. Moreover, we expect that the level of 1.3772 is going to form double top at this spot in H1 chart. Furthermore, according to antecedent events, the EUR/USD pair has still been moving between 1.3755 and 1.3690. Consequently, it will be of the foresight to sell at the spot of 1.3750 or 1.3772 with the first target at 1.3660 (the weekly pivot point) for today. Otherwise, the stop loss should be placed above the level of 1.3800. Thereupon, it will be very useful if you set your stop loss at the 1.3825 price.
