EURUSD 2014-11-13

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EURUSD managed to break out of the falling wedge pattern and testing the wedge’s upper trend line. At this point, resistance comes in at 1.2527 regions, while a break of the short term support where price bounced off previously at 1.24 is required in order to validate any further declines in EURUSD. After continuing to fall over the past months, EURUSD’s current price action has shown that price has been stalling around the 1.24/1.23 levels for a bit longer, which could possibly result in a break out in either direction.

EURUSD Daily Pivots

R3 1.2561
R2 1.2528
R1 1.2482
Pivot 1.245
S1 1.2403
S2 1.2371
S3 1.2325

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