Trading recommandations:
- According to the previous events, the price of the EUR/USD pair will be moving between the levels 1.1085 and 1.1241 in coming hours. Besides, the weekly pivot point has been set at the level of 1.1082 and now is acting as a strong support. In the long term, buy above the price of 1.1085 with the first target at 1.1210 in order to test the double top. It might resume to 1.1241 if the trend can break the weekly peak price at 1.1210.
- The stop loss should always be taken into account, so it will be very useful to set your stop loss below the support at the price of 1.1021
Notes:
- Strong resistance will be set at the level of 1.1241.
- The double top is going to be at the 1.1210 level. Currently, the double bottom is set at the price of 1.1100.
- We expect a range of 112 pips today.
- The weekly pivot point (1.1082) represents the key level this week.
