Overview:
- The EUR/USD pair in the short term.
- According to the previous events, the price has still been moving between 1.1289 and 1.1392. The level of 1.1392 will indicate strong resistance, and minor resistance is at 1.1350. Moreover, the price will form a new strong spot at this level. Also, the price of 1.3624 is coinciding with the weekly pivot point on the H1 chart. Therefore, it will be profitable to sell at 1.1392 or 1.1350 in the short term with the first target at 1.1289. If the market breaks the support at the price of 1.1289, it will continue towards 1.1231 in order to test the weekly support 2. On the other hand, the level of 1.1231 will indicate a strong support. Additionally, this price will form a double bottom at 1.1206. For that reason, it will be very gainful to buy at 1.1206 with the first target at 1.189 in order to retest it from below. However, the stop loss should be placed below 1.1230 at the level of 1.1200 this week.
Warning:
- The key levels are set at the point of 1.1392.
- Please check the market volatility before investing because the price may have already been reached and scenarios might have become invalidated.
