The EUR/USD pair
The EUR/USD pair is trading at the level 1.3306 below the weekly pivot point 1.3370 and below the 50 period moving average (red). The pair found a strong support at level 1.3300; the level 1.33 appeared to be the strong resistance, through the pair has failed for several times to break this level through.
Therefore, the pair will initiate descending movement to the point 1.3150 only in case the pair closes below the level 1.33.
It is recommended to sell the pair on the rebound at the weekly pivot line around 1.3370 with the target seen at the 31.8% of Fibonacci retracement in the point 1.3150.
The Range Indicator and MCD are showing good speed and clear bearish signals.
