Long-term review
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The weekly technical levels of EUR/USD pair:
Intraday trading recommendations:
- The EUR/USD pair probably is going to move between the levels of 1.2310 and 1.2460 on November 24, 2014. The level of 1.2310 will indicate strong support. The intraday resistance will set at the price of 1.2460. So, we expect that the level of 1.2560 will form a new double top at this price. Therefore, it will be wise to buy above the area of 1.2330 with the first target at 1.2422 (minor resistance), then it will continue towards the level of 1.3454 in order to test the weekly pivot point. The stop loss should be placed below 1.2310.
Observations:
- The trend still calls for a bullish market from the level of 1.2330.
- The support will set at the level of 1.2310.
- The resistance has already placed at 1.2460.
- So, we expect a range of 84 pips.
- The weekly pivot point is set at 1.2450. So, above the price of 1.2460 it will be a good sign to confirm for a bullish market.
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