Long-term review
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The weekly technical levels of EUR/USD pair.
Overview:
- According to the previous events, the price of EUR/USD pair is going to move between 1.2545 and 1.2430 from now until tomorrow. So, it should be noted that the level of 1.2545 is going to form the double top in H1 chart. Also, it should be noticed that the market was quite stable and trend was also rather clear (downward) since the last month. Therefore, we expect a bearish market today from the area of 1.2545. Thus, sell below the level of 1.2545 (this level represents a minor resistance today) with the first target of 1.2488 to test the weekly pivot point. It might resume to 1.2430 in order to reach the weekly support one. However, the stop loss should be always be into account, for that it will be very beneficial to set your stop loss at the price of 1.2585.
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