Long-term review
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Overview:
- EUR/USD: The levels of 1.2801 will indicate strong resistance on October 28, 2014. Moreover, we expect that the level of 1.2839 is going to form a double top at this spot in H1 chart. On the other hand, the minor support has set at the price of 1.2666 and the major support is going to set at 1.2613. Also, it might be noticed that the double bottom is going to place at the price of 1.2613. Furthermore, according to the previous events, the EUR/USD pair is still moving between the levels 1.2666 and 1.2753. Consequently, it will be wise to sell at the area of 1.2800 or 1.2840 with the first target at 1.2707 (the weekly pivot point) in coming hours. Do it another way, the stop loss should be placed above the level of 1.2840. Consequently, it will be very beneficial if you set your stop loss at the 1.2864 price.
Notes:
- The double top will set at the level of 1.2839.
- The major support is going to set at 1.2613.
- The minor support has set at the price of 1.2666.
- The price had only hit the weekly pivot point this week.
- We expect a range of 84 pips today.
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