Weekly technical levels of the EUR/USD pair.
Trading recommendations:
- According to the previous events, the price of EUR/USD pair has still been moving between 1.3490 and 1.3350.
- The support has already set at the price of 1.3350 and the double bottom will be placed at the 1.3331 price.
- Buy above the level of 1.3335/1.3350 with the first target of 1.3390 in order to test the weekly pivot point; it might resume to 1.3430.
- Also, it should be noted that the resistance sets at 1.3450.
- Therefore, below the level of 1.3450, look for further downside with the 1.3400 and 1.3366 targets.
Comment:
- The weekly pivot point sets at 1.3398 could hit the moving average (50).
- Stop loss should never exceed your maximum exposure amounts.
- As a rule, the market is highly volatile (133.81) if the previous day had a huge volatility.
