Sunday, February 9, 2014

EURUSD Weekly Analysis: 10th to 14th Feb 2014

After making 150 pips from this pair last week due to a candles reversal pattern formed around the 1.3700 where we saw a movement to 1.3500 support level.
 A reversal inside bar was formed after the market broke the trendline support (which was made stronger by the support formed earlier last week), and we see this pair immediately moved up, helped by a worse than expected non-farm payroll data released from the United states on Friday.

1.3700 is the next level to target where we could see a bounce to sell or a breakout toward 1.3830 resistance.


Support levels___________           1.3480 and 1.3320
Resistance Levels____________ 1.3700 and 1.3830

I will keep you updated as the trade unfolds

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