empty
 
 
14.04.2015 12:37 PM
Weekly technical levels for EUR/USD for April 14-17, 2015

The weekly pivot point: 1.0736

This image is no longer relevant

Overview:

The resistance has already been set at the level of 1.0736. Additionally, the double top is also coinciding with the same price at the level of 1.0736. Moreover, the EUR/USD pair broke the weekly pivot point last week and the price is still below it this week. Also, it should be noted that the market has opened below the 1.0620 level today. Consequently, the trend was downward and the range seemed extensive up to 90 pips. According to the previous events, the price of the EUR/USD pair has still been moving between 1.0677 and 1.0440. Therefore, it will be advantageous to sell at 1.0736 (the weekly pivot point) with the first target at 1.0570. If the price is able to break a double bottom at 1.0567, it may resume to 1.0438 in order to test the weekly support 1 and create a new double bottom. In spite of this, stop loss should always be in account; accordingly, it will be of beneficial to set the stop loss above weekly pivot point at the price of 1.0750.

The weekly technical levels for EUR/USD pair:

This image is no longer relevant
Summary
Urgency
Analytic
Mourad El Keddani
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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