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29.07.201413:48 Forex Analysis & Reviews: Weekly technical levels of EUR/USD for July 29, 2014

Long-term review

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Technical levels of the EUR/USD pair:

Review:

The double top will set at the level of 1.3548 and the double bottom is going to be set at 1.3419 level.
So, the last range was 129 pips. We expect a range between 150 pips and 170 pips this week.
The price hit the weekly support 1 last week only.
The major support is going to set at 1.3380 on July 29, 2014.
Hence, according to the previous events, the price of the EUR/USD pair is going to move between 1.3410 and 1.3465.
The level of 1.3465 is representing the weekly pivot point.
Therefore, it will be very useful to sell below the price of 1.3470 in the short term with the first target at 1.3419 in order to test the double bottom. But if the trend is able to break the double bottom at 1.3419, then it might resume to 1.3390.

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