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11.08.2014 02:24 PM
Weekly technical levels of EUR/USD for August 11-15, 2014

Weekly technical levels of the EUR/USD pair.

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Trading recommendations:

  • According to the previous events, the price of EUR/USD pair has still been moving between 1.3490 and 1.3350.
  • The support has already set at the price of 1.3350 and the double bottom will be placed at the 1.3331 price.
  • Buy above the level of 1.3335/1.3350 with the first target of 1.3390 in order to test the weekly pivot point; it might resume to 1.3430.
  • Also, it should be noted that the resistance sets at 1.3450.
  • Therefore, below the level of 1.3450, look for further downside with the 1.3400 and 1.3366 targets.
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Comment:

  • The weekly pivot point sets at 1.3398 could hit the moving average (50).
  • Stop loss should never exceed your maximum exposure amounts.
  • As a rule, the market is highly volatile (133.81) if the previous day had a huge volatility.
Summary
Urgency
Analytic
Mourad El Keddani
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