FX.co ★ Weekly technical levels of EUR/USD for September 15-19, 2014

Weekly technical levels of the EUR/USD pair.

Overview:

• The EUR/USD pair broke major support at the price of 1.3009 last week. But the level of 1.3009 has become strong resistance for September 15-19, 2014. Also, it should be noted that the weekly pivot point is calculated at 1.2933 and the pair is now moving from it. Therefore it will probably start an downside movement at this area and recover again. So, the market will indicate a bearish opportunity at the level of 1.2933 and it will be a good sign to sell at this spot with the first target of 1.2890, and continue towards 1.3858 in order to test the double bottom. On the other hand, if a break of 1.3009 happens, then it will be a good location for placing stop loss. 

Trading recommendations:

• According to previous events, the price of EUR/USD pair has still been moving between 1.2950 and 1.2905.
• Below the level of 1.2933, look for further downside with the 1.2890 and 1.2800 targets.
• The stop loss should be set at the price of 1.3030.