Overview:
- The price of EUR/USD pair has still moved between 1.0725 and 1.0848. A psychological level was set at 1.0725 because the weekly pivot point was placed at the same level of 1.0725. Moreover, the weekly resistance is set at 1.0929 and the support was found at 1.0601. Therefore, buy deals are recommended above the level of 0. 1.0700, with a target at 1.0848 in order to test the weekly double top at this level in the H1 chart. Consequently, the price of the EUR/USD pair is going to try to break the double top at 1.0848 to call for the bullish market above 1.0848. Thus, the price will go further towards the level of 1.0900. The major resistance has been placed at 1.0929. The stop loss should always be taken into account, so it will be of the foresight to set your stop loss at 1.0680.
The weekly technical levels for EUR/USD pair:
Observations:
- It should be noted that the level of 1.0684 represents the double bottom and the weekly pivot point is placed at 1.0725.
- The resistance will be set at the level of 1.0929 this week.
- The support has already been placed at 1.0601.
- We expect a new range about 320 pips this week.
- The key level will be set at the level of 1.07000.
