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EUR/USD is traded near 1.0685, 122 pips above today's opening price. Given that the average intraday volatility of the EUR/USD pair ranges from 50 to 120 points, it has risen to the maximum value of this range today.
The price also broke through the important short-term resistance level 1.0652 (EMA200 on the 4-hour chart).
In our opinion, it is possible to enter short positions from the current level by placing pending sell limit orders near the resistance levels 1.0700, 1.0740, 1.0800. A signal to enter short positions will also be a breakdown of the support level 1.0652. A break of the support level 1.0485 (the low in the pair's decline from 1.3870 that began in May 2014) will be a confirming signal for the resumption of the EUR/USD downtrend.
Support levels: 1.0652, 1.0600, 1.0527, 1.0500, 1.0485, 1.0400, 1.0355, 1.0300
Resistance levels: 1.0700, 1.0740, 1.0800, 1.0810, 1.1000, 1.1070, 1.1100, 1.1190, 1.1285
Trading Recommendations
Sell Stop 1.0635. Stop Loss 1.0695. Take-Profit 1.0600, 1.0527, 1.0500, 1.0485, 1.0400, 1.0355, 1.0300
Buy Stop 1.0695. Stop Loss 1.0635. Take-Profit 1.0740, 1.0800, 1.0810, 1.1000, 1.1070, 1.1100, 1.1190, 1.1285
