analytics5901d33d83e58.png

Recently, the EUR/USD pair has been trading sideways at the price of 1.0900. According to the 4H time frame, I found a broken rising wedge (bearish pattern). The price also did successful re-test of the upward diagonal, which is another sign of weakness. My advice is to watch for potential selling opportuntiies. The downward targets are set at the price of 1.0725 and 1.0685.

Resistance levels:

R1: 1.0940

R2: 1.0960

R3: 1.1000

Support levels:

S1: 1.0865

S2: 1.0845

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

Trade Forex, Commodities, Stocks and more, trade CFDs on the Plus 500 CFD trading platform! *CFD Service. 80.6% lose money - Register a real money account here and get trading right away.