Recently, the EUR/USD has been trading upwards. The price tested the level of 1.0619. On the 30M time frame I found hidden bearish divergence on the moving average oscilator and a fake breakout of yesterday’s high at 1.0615. My advice is to watch for potential selling opportunties as buyers are not active above the yesterday’s high. Targets are set at 1.0570 (50% retracement) and 1.0525 (yesterday’s low).
Resistance levels:
R1: 1.0620
R2: 1.0666
R3: 1.0715
Support levels:
S1: 1.0525
S2: 1.0480
S3: 1.0435
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 upwards. The price tested the level of 1.0619. On the 30M time frame I found hidden bearish divergence on the moving average oscilator and a fake breakout of yesterday’s high at 1.0615. My advice is to watch for potential selling opportunties as buyers are not active above the yesterday’s high. Targets are set at 1.0570 (50% retracement) and 1.0525 (yesterday’s low).
Resistance levels:
R1: 1.0620
R2: 1.0666
R3: 1.0715
Support levels:
S1: 1.0525
S2: 1.0480
S3: 1.0435
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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