Recently, the EUR/USD pair has been trading downwards. The price tested the level 1.0526. According to the 30M time frame, I found hidden bullish divergence and bullish engulfing candlestick pattern. My advice is to watch for potential buying opportunities. I placed Fibonacci retracement to find potential upward targets. Targets are set at the price of 1.0565 (FR 38.2%), 1.0577 (FR 50%), and 1.0587 (FR 61.8%).
Resistance levels:
R1: 1.0615
R2: 1.0655
R3: 1.0680
Support levels:
S1: 1.0550
S2: 1.0530
S3: 1.0485
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 pair has been trading downwards. The price tested the level 1.0526. According to the 30M time frame, I found hidden bullish divergence and bullish engulfing candlestick pattern. My advice is to watch for potential buying opportunities. I placed Fibonacci retracement to find potential upward targets. Targets are set at the price of 1.0565 (FR 38.2%), 1.0577 (FR 50%), and 1.0587 (FR 61.8%).
Resistance levels:
R1: 1.0615
R2: 1.0655
R3: 1.0680
Support levels:
S1: 1.0550
S2: 1.0530
S3: 1.0485
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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