Recently, the EUR/USD has been trading upwards. As I expected, the price tested the level of 1.1250. Yesterday’s target at the price of 1.1230 has been reached. Anyway, today I found a broken upward channel, a fake breakout of the yesterday’s high and a hidden bearish divergence on the osilator. These are signs of weakness and my advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1170.
Resistance levels:
R1: 1.1225
R2: 1.1240
R3: 1.1260
Support levels:
S1: 1.1180
S2: 1.1170
S3: 1.1150
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. As I expected, the price tested the level of 1.1250. Yesterday’s target at the price of 1.1230 has been reached. Anyway, today I found a broken upward channel, a fake breakout of the yesterday’s high and a hidden bearish divergence on the osilator. These are signs of weakness and my advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1170.
Resistance levels:
R1: 1.1225
R2: 1.1240
R3: 1.1260
Support levels:
S1: 1.1180
S2: 1.1170
S3: 1.1150
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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