25.02.201416:02 Forex Analysis & Reviews: Technical analysis of EUR/USD for February 25, 2014

Long-term review

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Overview:

As it is known, we use historic prices to determine future prices. Thereupon, according to antecedent events, the price of EUR/USD pair has still been moving between the ratio of 100% Fibonacci retracement levels at the level of 1.3772 and 23.6% Fibonacci retracement at the 1.3706 level. In particular, the EUR/USD pair will be able to form double top at 1.3772 on February 25, 2014. Therefore, it will be good to short selling below the price of 1.3770 with the first target of 1.3732 in order to test the weekly pivot point. Additionally, if the trend will be able to break the weekly pivot point, then it might resume to 1.3691 (it should be noted that the level of 1.3691 is going to represent the weekly support 1). The stop loss should be set above the price of 1.3793. Notwithstanding, check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate.

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