Technical market overview:
The Doji candlestick formation at the level of 1.3286 was invalidated and the market has made a higher high at the level of 3348 which was above the technical resistance zone located between the levels of 1.3258 - 1.3304. Nevertheless, at the end of the uptrend, the market has made another interesting candlestick formation - Shooting Star. This candlestick warns all the bulls that the uptrend might be soon terminated and the market will reverse or make a corrective pull-back towards the lower price levels.
Weekly Pivot Points:
WR3 - 1.3379
WR2 - 1.3241
WR1 - 1.3168
Weekly Pivot - 1.3018
WS1 - 1.2944
WS2 - 1.2805
WS3 - 1.2718
Trading recommendations:
Due to the Shooting Star candlestick formation, all daytraders should open only the sell orders as close as possible to the level of 1.3360. The targets are seen at the levels of 1.3258 and 1.3217. The swing traders' target is located at the level of 1.3100.
