Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1921. According to the H1 time – frame, I found that the price is trading inside of the downward channel, which is a sign that sellers are in control. I also found a potential 3-drive pattern in creation, which is a sign that EUR/USD might create another downward swing. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1890.
Resistance levels:
R1: 1.2000
R2: 1.2040
R3: 1.2087
Support levels:
S1: 1.1918
S2: 1.1872
S3: 1.1833
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 1.1921. According to the H1 time – frame, I found that the price is trading inside of the downward channel, which is a sign that sellers are in control. I also found a potential 3-drive pattern in creation, which is a sign that EUR/USD might create another downward swing. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1890.
Resistance levels:
R1: 1.2000
R2: 1.2040
R3: 1.2087
Support levels:
S1: 1.1918
S2: 1.1872
S3: 1.1833
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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