Long-term review
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Overview:
- The resistance is set at the level of 1.3960 and the double top was placed at 1.3914 on March 12, 2014. Consequently, the price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3900-1.3960. Accordingly, it will a good sign to sell in this area with the first target of 1.3832 to test a minor support at this price which represent the weekly pivot point for March 10-14, 2014. Also, if the trend will be able to break the weekly pivot point, it will call for downtrend in order to continue its bearish movement towards 1.3760. At the same time, the stop loss should be placed above 1.3960 at the price of 1.3983. Equally important, it should also be noted that the support will set at the 1.3750 level today.
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