Recently, the EUR/USD has been trading upwards. The price tested the level of 1.1828. Anyway, according to the 30M time frame, I found a fake breakout of 2-day high and weakness in the background, which is a sign that buying looks risky. Stochastic oscillator showing an overbought condition, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1775.
Resistance levels:
R1: 1.1820
R2: 1.1840
R3: 1.1860
Support levels:
S1: 1.1780
S2: 1.1760
S3: 1.1740
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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