Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1268. Anyway, according to the 30M time frame, I found a fake breakout of yesterday’s high at the price of 1.1264, which is a sign that buying today seems risky. There is also a hidden bearish divergence on the moving average osiclator, which is another sign of weakness. My advice is to watch for potential selling opportunities today. The downward targets are set at the price of 1.1221 and 1.1165.
Resistance levels:
R1: 1.1260
R2: 1.1275
R3: 1.1290
Support levels:
S1: 1.1230
S2: 1.1220
S3: 1.1200
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 pair has been trading upwards. As I expected, the price tested the level of 1.1268. Anyway, according to the 30M time frame, I found a fake breakout of yesterday’s high at the price of 1.1264, which is a sign that buying today seems risky. There is also a hidden bearish divergence on the moving average osiclator, which is another sign of weakness. My advice is to watch for potential selling opportunities today. The downward targets are set at the price of 1.1221 and 1.1165.
Resistance levels:
R1: 1.1260
R2: 1.1275
R3: 1.1290
Support levels:
S1: 1.1230
S2: 1.1220
S3: 1.1200
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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