Technical market overview:
The EUR/USD pair has broken through all of the technical support at the levels of 1.1275, 1.1258, 1.1248, 1.1234, and 1.1214 (all of them will now be considered as technical resistances) and made a new low at the level of 1.1176. The main formation driving the move down was Three Soldiers. Currently, the market conditions are oversold and despite the negative and very weak momentum, there might be some pullback towards the level of 1.1214 and 1.1234.
Weekly Pivot Points:
WR3 - 1.1499
WR2 - 1.1457
WR1 - 1.1406
Weekly Pivot - 1.1363
WS1 - 1.1314
WS2 - 1.1271
WS3 - 1.1224
Trading Recommendations:
All targets for sell orders have been hit, so no sell orders should be left open for now. The next good level to open the sell orders is seen at 1.1234, which will act as a technical resistance for the price. Please keep your protective stop-loss orders tight.
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