Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.0775. According to the 1H time frame, I found corrective ABC pattern, which is a sign that selling looks risky. The short-term trend is bullish and my advice is to watch only for buying opportunities. The price respected the 60-period simple moving average, which is another sign of strength. An upward target is set at the price of 1.0818.
Resistance levels:
R1: 1.0823
R2: 1.0850
R3: 1.0888
Support levels:
S1: 1.0745
S2: 1.0720
S3: 1.0680
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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