Technical Overview:
The EUR/USD pair has been trading in a narrow consolidation zone located between the levels of 1.1347 - 1.1406. There is still a chance for a move up if the support at the level of 1.1347 holds, but if it will not, then the next support is seen at the level of 1.1268. Please notice the RSI indicator is barely holding above the level of fifty, so the technical support reaction to the bearish pressure is very important and it is worth to keep an eye on it.
Weekly Pivot Points:
WR3 - 1.1662
WR2 - 1.1520
WR1 - 1.1459
Weekly Pivot - 1.1309
WS1 - 1.1258
WS2 - 1.1120
WS3 - 1.1064
Trading Recommendations:
The current move up might the beginning of a larger impulsive breakout, so only the buy orders should be opened. The best strategy for this market is to open the buy orders during the local pull-back or larger corrections.
