• Daily pivot point: 1.3796

Trading recommendations:

• The EUR/USD pair is in the short term.
• The price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3830. Also, it should be noted that the level of 1.3830 is representing the weekly pivot point on March 27, 2014. Accordingly, it will be a good sign to sell below 1.3830 with the first target of 1.3750 to test the double bottom at this price. Then, it will call for downtrend in order to continue its bearish movement towards 1.3711 (the weekly support 1). At the same time, the stop loss should be placed above the weekly pivot point at the price of 1.3774. Equally important, the support will set at the 1.3870 level.

Notes:

• Additionally, it should be noted that the range today will be about 80 pips.
• The stop loss has set in 40 pips. Hence, the risk of 40 pips should make profit of 60 pips.
• Volatility: 70.39 today.
• As a rule, the market is highly volatile if the last day had a huge volatility.

Intraday technical levels:

• R3: 1.3866
• R2: 1.3847
• R1: 1.3815
• PP: 1.3796
• S1: 1.3764
• S2: 1.3745
• S3: 1.3713