Overview:

• The price of EUR/USD pair will move between 1.3660 and 1.3585 today. We expect a new range about 81 pips as maximum today (the risk of 53 pips must make a profit of 81 pips). Moreover, it should be noticed that the key level is set at the level of 1.3660. Equally important, the value of 50% Fibonacci retracement levels is 1.3660 in H1 chart. Also, it should be noted that this level is coinciding with the weekly pivot point. Therefore, it will be a good sign to sell below the weekly pivot point (1.3659) with the first target of 1.3610. It will call for downtrend in order to continue its bearish movement towards 1.3585 in order to test the double bottom. On the other hand, the stop loss should never exceed your maximum exposure amounts, thus the stop loss should be placed above the price of 1.3659 because the level of 1.3659 will confirm the bullish market.
• Please, note that the daily volatility on May 30, 2014 is 122.17. As a rule, the market is highly volatile if the last day had a huge volatility.