The correction is getting higher
Technical Market Overview:
The EUR/USD market has bounced towards the technical resistance zone located between the levels of 1.1275 - 1.1284 but did not manage to break through it despite the fact, that candlestick formation called Three Green Soldiers has been made earlier. The market is testing the level of 1.1275, but might reverse anytime. Only a sustained breakout above the level of 1.1324 will make the bounce much more bullish in nature. The longer-term trend remains down and the market should reverse and follow the main trend soon.
Weekly Pivot Points:
WR3 - 1.1534
WR2 - 1.1453
WR1 - 1.1330
Weekly Pivot - 1.1249
WS1 - 1.1129
WS2 - 1.1042
WS3 - 1.0913
Trading Recommendations:
The next good level to open the sell orders is seen at 1.1275 - 1.1284 zone, which will act as a technical resistance for the price. Please keep your protective stop-loss orders tight. The first target is seen at the level of 1.1176.
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