Technical Market Overview:
The EUR/USD market is now consolidating in a narrow range between the levels of 1.1118 - 1.1145 after the downtrend has passed a for a while due to the oversold market conditions. The momentum remains weak anyway and there is no sign of any trend reversal yet. The first important technical resistance is seen at the level of 1.1176 and the next technical support is seen at the level of 1.1109 and 1.1027.
Weekly Pivot Points:
WR3 - 1.1384
WR2 - 1.1352
WR1 - 1.1289
Weekly Pivot - 1.1254
WS1 - 1.1188
WS2 - 1.1157
WS3 - 1.1092
Trading recommendations:
The last take profit level at 1.1118 has been hit and all sell orders should be closed with profit. The traders should now wait for another trading setup to occur shortly.
