Trading recommendations:
- The EUR/USD pair is in the short term.
- The price of the EUR/USD pair is going to turn to bearish from the level of 1.3366. Also, it should be noted that the level of 1.3369 represents the ratio of 38.2% Fibonacci retracement levels in H1 chart. Accordingly, it will be a good sign to sell below 1.3366 with the first target of 1.3331 to test the double bottom at this price. Then, it will call for a downtrend in order to continue its bearish movement towards 1.3290 (the weekly support 1). At the same time, the stop loss should be placed above the weekly pivot point at the price of 1.3390. Equally important, the support will set at the 1.3403 level.
Comments:
- Additionally, it should be noted that the range today will be about 60 pips.
- The stop loss has set in 60 pips. Hence, the risk of 60 pips should make profit of 90 pips.
- Volatility: 108.59 today.
- As a rule, the market is highly volatile if the last day had a huge volatility.
