Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1256. Anyway, I found a fake breakout of yesterday’s high and a strong divergent bar, which is a sign that buying look risky today. There is also a bearish divergence on the moving average oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1170 (yesterday’s low).
Resistance levels:
R1: 1.1250
R2: 1.1270
R3: 1.1300
Support levels:
S1: 1.1180
S2: 1.1165
S3: 1.1130
Trading recommendations for today: consider 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. The price tested the level of 1.1256. Anyway, I found a fake breakout of yesterday’s high and a strong divergent bar, which is a sign that buying look risky today. There is also a bearish divergence on the moving average oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1170 (yesterday’s low).
Resistance levels:
R1: 1.1250
R2: 1.1270
R3: 1.1300
Support levels:
S1: 1.1180
S2: 1.1165
S3: 1.1130
Trading recommendations for today: consider potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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