Long-term review
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The weekly technical levels of EUR/USD pair:
Trading recommendations:
- The weekly technical levels of the EUR/USD pair on November 10, 2014. The market has moved between 1.2441 and 1.2568. Consequently, we expect the following scenarios:
- First outlook: buy (buy limit) above 1.2441 with the first target of 1.2500, it might resume towards the first resistance at 1.2568.
- Second outlook: below the level of 1.2440 (sell stop) look for further downside with the 1.2412 and 1.2357 targets. Also, it should be noted that the double bottom will set at the price of 1.2357.
Notes:
- Stop loss should never exceed your maximum exposure amounts.
- New weekly range: 287 pips.
- Risk of 191 pips must make a profit of 287 (a risk to reward ratio of 1:1.5 is recommended)
- As a rule, the market is highly volatile if the previous day had a huge volatility.
- Volatility: 245.76, therefore the market indicates the higher volatility.
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