Recently, the EUR/USD has been trading downwards. As I expected, the price tested the level of 1.1170. Anyway, according to the 15M time frame, I found a fake breakout of yesterday’s low at the price of 1.1175. There is also a hidden bullish divergence on the moving average oscillator, which is another sign of potential strength. I have placed Fibonacci retracement to find potential upward targets. I got Fibonacci retracement 50% at the price of 1.1220 and Fibonacci retracement 61.8% at the price of 1.1230. My advice is to watch for buying opportunities today.
Resistance levels:
R1: 1.1245
R2: 1.1265
R3: 1.1305
Support levels:
S1: 1.1170
S2: 1.1150
S3: 1.1110
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 has been trading downwards. As I expected, the price tested the level of 1.1170. Anyway, according to the 15M time frame, I found a fake breakout of yesterday’s low at the price of 1.1175. There is also a hidden bullish divergence on the moving average oscillator, which is another sign of potential strength. I have placed Fibonacci retracement to find potential upward targets. I got Fibonacci retracement 50% at the price of 1.1220 and Fibonacci retracement 61.8% at the price of 1.1230. My advice is to watch for buying opportunities today.
Resistance levels:
R1: 1.1245
R2: 1.1265
R3: 1.1305
Support levels:
S1: 1.1170
S2: 1.1150
S3: 1.1110
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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