Weekly technical levels of the EUR/USD pair.
Trading recommendations:
- According to the previous events, the price of the EUR/USD pair is going to move between the levels of 1.3470 and 1.3560.
- The resistance has already set at the level of 1.3611 and the support stood at the price of 1.3462.
- So, we expect a range about 149 pips this week.
- Additionally, it should be noted that if the trend is ascending, then the strength of the currency will be defined as follows: EUR is in the uptrend and USD is in the downtrend.
- Therefore, it will be of the insight to sell in this area (1.3611) with the first target at 1.3508, then the price will be able to continue in the downtrend towards 1.3562 in order to try to break the weekly support one.
- On the other hand, the stop losses should be placed above the double top 1.3639.
