Technical market overview:
The EUR/USD pair has bounced from the level of 1.1183 and has been moving sideways since then. The attempt to rally was capped at the technical resistance at the level of 1.1249 and after this happened, the market has been trading in an even tighter range between the levels of 1.1210 - 1.1249. The momentum remains neutral and so are the market conditions.
Weekly Pivot Points:
WR3 - 1.1316
WR2 - 1.1286
WR1 - 1.1248
Weekly Pivot - 1.1215
WS1 - 1.1175
WS2 - 1.1141
WS3 - 1.1100
Trading recommendations:
The global investors wait for the breakout in either direction and because the range is now very tight, the breakout might be severe. Please notice, the larget time frame trend remains bearish.
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