Long-term review
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Weekly technical levels:
Overview:
- The EUR/USD pair has opened above the weekly support one at the level of 1.3593. So, the strong support will set at the spot of 1.3550 today. Also, you have to consider the price of 1.3667 which represents a strong resistance on July 7, 2014. Consequently, we expect a range about 60 pips in coming hours. Therefore, the market will probably indicate a bullish opportunity at the level of 1.3563 and the weekly pivot point will act as minor resistance around the area of 1.3626. Thus, according to the previous events, the price is going to move between the price of 1.3560 and the 1.3625 level. Thenceforward, the area above 1.3626 (above the weekly pivot point) looks for further upside with the first target at the 1.3645 level and continue towards 1.3667 in order to form to test the weekly resistance 1 tomorrow. However, stop loss should be placed below the price of 1.3540.
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