Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.2225. According to the 30M time – frame, I found a broken intraday bearish flag (pennat), which is a sign that sellers are in control. I also found a bearish cross on stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2220, 1.2146 and at the price of 1.2050.
Resistance levels:
R1: 1.2365
R2: 1.2465
R3: 1.2525
Support levels:
S1: 1.2205
S2: 1.2146
S3: 1.2050
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.2225. According to the 30M time – frame, I found a broken intraday bearish flag (pennat), which is a sign that sellers are in control. I also found a bearish cross on stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2220, 1.2146 and at the price of 1.2050.
Resistance levels:
R1: 1.2365
R2: 1.2465
R3: 1.2525
Support levels:
S1: 1.2205
S2: 1.2146
S3: 1.2050
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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