Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.0873. According to the 4H time frame, I found that the price is trading inside of the strong upward channel and my advice is to watch for buying opportunities. I have placed Fibonacci expansion to find potential upward target. I found Fibonacci expansion 161.8% at the price of 1.0945.
Resistance levels:
R1: 1.0850
R2: 1.0855
R3: 1.0865
Support levels:
S1: 1.0830
S2: 1.0825
S3: 1.0815
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.0873. According to the 4H time frame, I found that the price is trading inside of the strong upward channel and my advice is to watch for buying opportunities. I have placed Fibonacci expansion to find potential upward target. I found Fibonacci expansion 161.8% at the price of 1.0945.
Resistance levels:
R1: 1.0850
R2: 1.0855
R3: 1.0865
Support levels:
S1: 1.0830
S2: 1.0825
S3: 1.0815
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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