Recently, the EUR/USD has been trading sideways at the price of 1.1525. According to the 30M time frame, I found that price has broken supply trendline, which is a sign that selling looks risky. The RSI indicator is looking oversold near the 30 level, which is another sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1600.
Resistance levels:
R1: 1.1545
R2: 1.1565
R3: 1.1575
Support levels:
S1: 1.1512
S2: 1.1498
S3: 1.1480
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 has been trading sideways at the price of 1.1525. According to the 30M time frame, I found that price has broken supply trendline, which is a sign that selling looks risky. The RSI indicator is looking oversold near the 30 level, which is another sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1600.
Resistance levels:
R1: 1.1545
R2: 1.1565
R3: 1.1575
Support levels:
S1: 1.1512
S2: 1.1498
S3: 1.1480
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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