empty
 
 
04.08.2014 01:12 PM
Weekly technical levels of EUR/USD for August 4-8, 2014

Technical levels of the EUR/USD pair:

This image is no longer relevant

This image is no longer relevant

Forecast and review:

  • The double top of EUR/USD pair will set at the level of 1.3443 and the double bottom is going to be set at the 1.3365 level. It should be noted that the last range was very small around 80 pips only. But we expect a range of 170 - 200 pips this week.
  • The price had only hit support 1 last week.
  • The major support is going to set at 1.3380 on August 4, 2014. And the resistance had already set at the price of 1.3464.
  • So, according to the previous events, the price of the EUR/USD pair is going to move between 1.3380 and 1.3443.
  • The level of 1.3412 is representing the weekly pivot point. Therefore, it will be very useful to buy above the price of 1.3412 in the short term with the first target at 1.3440. Moreover, if the trend is able to break the double top at 1.3443, then it might resume to 1.3464.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback