Recently, the EUR/USD has been trading upwards. The price tested the level of 1.2296. According to the 30M time – frame, I found rejection from the pivot resistance 1 at the price of 1.2265, which his sign that buying looks risky. I also found an overbought stochastic, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2150 (pivot level) and at the price of 1.2080 (pivot support 1).
Resistance levels:
R1: 1.2265
R2: 1.2335
R3: 1.2450
Support levels:
S1: 1.2080
S2: 1.1960
S3: 1.1890
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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