Trading recommendations:
- According to the previous events, the price of the EUR/USD pair is still moving between the levels of 1.2625 and 1.2755. Moreover, it should be noted that the market was so stable and the trend was also too clear (downward). Similarly, we expect a range around 72 pips today. Additionally, the value of 50% Fibonacci retracement levels is 1.2755 for that the key level of 1.2755 represents a downtrend to confirm the bearish market. Also, it should be noted that the weekly pivot point is set at the same level. Therefore, sell deals are recommended below the 1.2755 level with targets at 1.2665 in order to test weekly support 1, and it will resume towards the double bottom at the price of 1.2620.
Daily technical levels:
Date:22/10/2013
Pair:EUR/USD
- Projected high: 1.2830
- Breakout (buy stop): 1.2766
- Strong resistance (sell limit): 1.2755
- Weekly Pivot: 1.2630
- Strong support (buy limit): 1.2625
- Breakout (sell stop): 1.2591
- Projected low: 1.2563
