Recently, the EUR/USD has been trading upwards. The price tested the level of 1.1155. Anyway, according to the 15M time frame, I found a hidden bearish divergence on the RSI oscillator, which is a sign that buying looks risky. There is a pin bar and strong reversal price action, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.1127 and 1.1120. The final target can be placed at the price of 1.1100.
Resistance levels:
R1: 1.1160
R2: 1.1190
R3: 1.1205
Support levels:
S1: 1.1115
S2: 1.1090
S3: 1.1065
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 1.1155. Anyway, according to the 15M time frame, I found a hidden bearish divergence on the RSI oscillator, which is a sign that buying looks risky. There is a pin bar and strong reversal price action, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.1127 and 1.1120. The final target can be placed at the price of 1.1100.
Resistance levels:
R1: 1.1160
R2: 1.1190
R3: 1.1205
Support levels:
S1: 1.1115
S2: 1.1090
S3: 1.1065
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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