Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1829. According to the H1 time – frame, I found a valid breakout of the downward channel (ending diagonal), which is a sign that selling looks risky. I also found a hidden bullish divergence on the MACD oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1995.
Resistance levels:
R1: 1.1820
R2: 1.1850
R3: 1.1900
Support levels:
S1: 1.1740
S2: 1.1690
S3: 1.1660
Trading recommendations for today: watch for potential buying opportunities.
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 1.1829. According to the H1 time – frame, I found a valid breakout of the downward channel (ending diagonal), which is a sign that selling looks risky. I also found a hidden bullish divergence on the MACD oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1995.
Resistance levels:
R1: 1.1820
R2: 1.1850
R3: 1.1900
Support levels:
S1: 1.1740
S2: 1.1690
S3: 1.1660
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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