Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1929 in an ultra high volume. According to the 30M time frame, I found a fake breakout of yesterday's high at the price of 1.1922, which is a sign of weakness. There is a buying climax and wide spread of the bar was fallowed by no demand bars, which is another strong sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1880 and 1.1830.
Resistance levels:
R1: 1.1940
R2: 1.1970
R3: 1.2030
Support levels:
S1: 1.1850
S2: 1.1790
S3: 1.1760
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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