Trading recommendations:
According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3250 and 1.3290. Moreover, it should be noted that the market was so stable and the trend was also too clear (upward). Similarly, the range was around 170 pips last week. Additionally, the value of 23.6% Fibonacci retracement levels is 1.3270 for that the key level of 1.3270 is represented for an uptrend to confirm the bullish market. Therefore, buy deals are recommended above the 1.3270 level with targets at 1.3324 in order to test the weekly pivot point, and it will resume towards 1.3363. However, the descending movement will probably be lower than the 1.3400 level (it will form a double top) with the first targets at 1.3340 and 1.3270.
Intraday technical levels:
Date:15/08/2013
Pair:EUR/USD
Projected High:1.3447
Breakout (Buy Stop):1.3392
Strong Resistance (Sell Limit):1.3362
Current Pivot:1.3283
Strong Support (Buy Limit): 1.3203
Breakout (Sell Stop): 1.3178
Projected Low: 1.3128