Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1981. According to the M30 time – frame, I found a potential end of the bullish corrective phase in the backgorund (bearish flag), which is a sign that buying looks risky. My advice is to watch for a potential breakout of a bearish flag to confirm further downward continuation. The downward target is set at the price of 1.1930. The short- and mid-term trend is bearish. Watch for selling opportunities.
Resistance levels:
R1: 1.2057
R2: 1.2123
R3: 1.2160
Support levels:
S1: 1.1955
S2: 1.1915
S3: 1.1850
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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