Overview :
- According to the previous events, the price of the EUR/USD pair is going to move between the levels of 1.1890 and 1.1740 this week.
- Resistance has already set at the level of 1.1956 (minor resistance sets at the level of 1.1890) and support stood at 1.1740.
- But currently, support is placed at 1.1813.
- So, we expect a range about 150 pips (1.1890 - 1.1740) this week.
- Additionally, it should be noted that if the trend is ascending, then the strength of the currency will be defined as follows: EUR is in the uptrend and USD is in the downtrend. The downward trend is still strong so the pair will probably go down.
- Therefore, it will be of the insight to sell in this area (1.1740) with the first target at 1.1813, then the price will be able to continue in the downtrend towards 1.1740 in order to try to break the weekly support 3.
- On the other hand, the stop losses should be placed above the double top 1.1975.
The material has been provided by InstaForex Company - www.instaforex.com
