Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2700. Anyway, according to the M15 timeframe, I found that the price rejected from the resistance 2 (1.1694), which is a sign that buying looks very risky at this stage. I also found overbought conditions on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at 1.1650 and 1.1615.
Trading recommendations for today: watch for potential selling opportunities due to overbought conditions.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2700. Anyway, according to the M15 timeframe, I found that the price rejected from the resistance 2 (1.1694), which is a sign that buying looks very risky at this stage. I also found overbought conditions on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at 1.1650 and 1.1615.
Trading recommendations for today: watch for potential selling opportunities due to overbought conditions.
The material has been provided by InstaForex Company – www.instaforex.com
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