Recently, the EUR/USD has been trading sideways at the price of 1.0900. On the 4H time frame, I found that the price has broken the upward trendline, which is a sign that buying looks risky. I found bearish divergent bar and hidden bearish divergence on the oscilator. My advice is to watch for potential selling opportunities. Downward targets are set at the price of 1.0725 and 1.0685.
Resistance levels:
R1: 1.0950
R2: 1.0970
R3: 1.1010
Support levels:
S1: 1.0870
S2: 1.0850
S3: 1.0810
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the EUR/USD has been trading sideways at the price of 1.0900. On the 4H time frame, I found that the price has broken the upward trendline, which is a sign that buying looks risky. I found bearish divergent bar and hidden bearish divergence on the oscilator. My advice is to watch for potential selling opportunities. Downward targets are set at the price of 1.0725 and 1.0685.
Resistance levels:
R1: 1.0950
R2: 1.0970
R3: 1.1010
Support levels:
S1: 1.0870
S2: 1.0850
S3: 1.0810
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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