Recently, the EUR/USD pair has been trending upwards. The price tested the level of 1.0991. According to the 15M time frame, I found a fake breakout of the yesterday’s high, which is a sign that buying looks risky. My advice is to watch for selling opportunties. I have placed Fibonacci retracement to find potential downward targets. I got Fibonacci retracement 38.2% at the price of 1.0950, Fibonacci retracement 50% at the price of 1.0935 and Fibonacci retracement 61.8% at the price of 1.0920.
Resistance levels:
R1: 1.0975
R2: 1.0985
R3: 1.0995
Support levels:
S1: 1.0954
S2: 1.0945
S3: 1.0935
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 trending upwards. The price tested the level of 1.0991. According to the 15M time frame, I found a fake breakout of the yesterday’s high, which is a sign that buying looks risky. My advice is to watch for selling opportunties. I have placed Fibonacci retracement to find potential downward targets. I got Fibonacci retracement 38.2% at the price of 1.0950, Fibonacci retracement 50% at the price of 1.0935 and Fibonacci retracement 61.8% at the price of 1.0920.
Resistance levels:
R1: 1.0975
R2: 1.0985
R3: 1.0995
Support levels:
S1: 1.0954
S2: 1.0945
S3: 1.0935
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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