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Technical Market Overview:
The EUR/USD pair has broken below the short-term trendline support and violated the technical support at the level of 1.1305 as well. In that situation, the sell-off might accelerate towards the level of 1.1250 or even 1.1224. That move down will be considered as a local pull-back as along as new low is made below 1.1118, so the outlook remains bullish.
Weekly Pivot Points:
WR3 - 1.1598
WR2 - 1.1464
WR1 - 1.1422
Weekly Pivot Point: 1.1290
WS1 - 1.1228
WS2 - 1.1091
WS3 - 1.1040
Trading Recommendations:
The best strategy in the current market conditions is to trade in the direction of the main trend, which is now up. All the local pull-backs and corrections should be treated as another opportunity to open the buy orders for a better price. There is a downtrend reversal sign on the weekly time-frame chart, which is why the recent move up might be the beginning of the new uptrend.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
