EUR/USD analysis for March 31, 2017

Recently, the EUR/USD pair has been trading downwards. The price tested the level 1.067. According to the 30M time frame, I found that price is trading in the well-defined downward channel, which is an indication that buying looks risky. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.0620.

Resistance levels:

R1: 1.0745

R2: 1.0770

R3: 1.0810

Support levels:

S1: 1.0665

S2: 1.0640

S3: 1.0600

Trading recommendations for today: watch for potential selling opportunities.

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