Technical Market Overview:
The EUR/USD pair has fallen down from the level of 1.1323 after the Double Top formation was made. The price has broken below the technical support at the level of 1.1273 and is currently consolidation in a narrow range between the levels of 1.1226 - 1.1262. Any breakout below the short-term trend line dynamic support will indicate a continuation of the down move towards the levels of 1.1220 and 1.1210. The key technical support remains untouched at the level of 1.1176.
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:
Daytraders should open the sell orders as close as possible to the level of 1.1265 with a tight protective stop loss and set the take profit level at 1.1220 - 1.1210. Please notice, that if the downtrend will resume, the main target is seen at the level of 1.1176.
