Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.0906. According to the 5M time frame, I found broken trading range (accumulation), which is a sign that selling looks risky. The short-term trend is bullish. My advice is to watch for potential buying opportunities. There is also a hidden bullish divergence on the moving average oscillator. The first upward target is set at the price of 1.0935.
Resistance levels:
R1: 1.0935
R2: 1.0950
R3: 1.2965
Support levels:
S1: 1.0900
S2: 1.0885
S3: 1.0865
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 of 1.0906. According to the 5M time frame, I found broken trading range (accumulation), which is a sign that selling looks risky. The short-term trend is bullish. My advice is to watch for potential buying opportunities. There is also a hidden bullish divergence on the moving average oscillator. The first upward target is set at the price of 1.0935.
Resistance levels:
R1: 1.0935
R2: 1.0950
R3: 1.2965
Support levels:
S1: 1.0900
S2: 1.0885
S3: 1.0865
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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