Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1212. Anyway, according to the 1H time frame, I found a fake breakout of Friday’s high at 1.1208, which is sign that buying looks risky. There is also a breakout of the upward trendline, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1145.
Resistance levels:
R1: 1.1215
R2: 1.1225
R3: 1.1245
Support levels:
S1: 1.1190
S2: 1.1175
S3: 1.1165
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. The price tested the level of 1.1212. Anyway, according to the 1H time frame, I found a fake breakout of Friday’s high at 1.1208, which is sign that buying looks risky. There is also a breakout of the upward trendline, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1145.
Resistance levels:
R1: 1.1215
R2: 1.1225
R3: 1.1245
Support levels:
S1: 1.1190
S2: 1.1175
S3: 1.1165
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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