Recently, EUR/USD has been trading upwards. The price tested the level of 1.1737. According to the H1 time – frame, I found a breakout of the supply trendline in the background, which is a sign that selling looks risky. I also found potential completion of the downwrad corrective phase (abc), which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1790.
Recently, EUR/USD has been trading upwards. The price tested the level of 1.1737. According to the H1 time – frame, I found a breakout of the supply trendline in the background, which is a sign that selling looks risky. I also found potential completion of the downwrad corrective phase (abc), which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1790.
Resistance levels: R1: 1.1730 R2: 1.1750 R3: 1.1780 Support levels: S1: 1.1680 S2: 1.1655 S3: 1.1632
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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