FX.co ★ Weekly technical levels of EUR/USD for April 14-18, 2014

Weekly technical levels of the EUR/USD pair.

Pivot point among resistances and supports for April 14-18, 2014.

• If the price is at pivot point (1.3828), watch for a move back to resistance 1 (1,3961) or support 1 (1.3751).
• If the price is at resistance 1 (1.3961), expect a move to resistance 2 (1.4038) or back towards the pivot point (1.3828).
• If the price is at support 1 (1.3751), expect a move to support 2 (1.3618) or back towards resistance 1 (1.3961).
• If the price is at support 2 (1.3618), expect a move to support 3 (1.3541) or back towards support 1 (1.3751).
• If the price is at resistance 2 (1.4038), expect a move to resistance 3 (1.4171) or back towards resistance 1 (1.3961).

Trading recommendations:

• The support of the EUR/USD pair has already set at 1.3750 on April 14, 2014. Furthermore, it will be very profitable to buy above this level for retesting this level in the long term. Therefore, buy deals are recommended above the weekly support 1 with targets at 1.3830 (the level of 1.3838 is representing the weekly pivot point) and 1.3905 to reach the double top. On the contrary, the resistance is going to set at the level of 1.3960 this week. Consequently, the descending movement will probably be lower than the 1.3960 level with the targets at the weekly pivot point (1.3828) and 1.3750.