Overview:

• The resistance has already set at the level of 1.3668, a strong level, on June 20, 2014. Additionally, the double top is also coinciding with the same price at the level of 1.3668. Moreover, the EUR/USD pair broke the weekly pivot point yesterday and today the price is still around it. Also, it should be noted that the market opened below the weekly resistance today. Hence, the trend was sideways and the range seemed extensive up to 66 pips. According to the previous events, the price of the EUR/USD pair has still been trapped between the level of 1.3650 and the 1.3590 level. Therefore, it will be advantageous to sell at the price of 1.3668 (the weekly double top in H1 chart) with the first target at 1.3590 ( the level of 1.3573 is going to represent the weekly pivot point). It may resume to 1.3550 if the price is able to break 1.3573. Notwithstanding, stop loss should always be in account, accordingly, it will be of profitable to set the stop loss above the double top at the price of 1.3690.