Trading recommendations:
- The price of the EUR/USD pair has still bben trapped between 1.2773 and 1.2700. The level of 1.2775 will indicate strong resistance; moreover, the price will form a double top at this level. Therefore, it will be quite profitable to sell at 1.2775 again (short term) with the first target at 1.2733, then it will continue towards 1.2680. Also, it should be noted that a strong support has placed at 1.2668 in the H1 chart. On the other hand, if the price closes above the resistance then the best location for placing a stop loss should be above 1.2790. In addition, please be aware that the trend has broken the weekly support 1 and 2, for that it calls for a bearish market. Equally important is that the RSI and the Moving Average (100) are still calling for a downtrend.
Intraday technical levels:
Date and Time:25/09/2014 11:41
Pair:EUR/USD
- R3: 1.2914
- R2: 1.2884
- R1: 1.2832
- PP: 1.2802
- S1: 1.2750
- S2: 1.2720
- S3: 1.2668
