Recently, the EUR/USD pair has been trading sideways at the price of 1.0665. According to the 4H time frame, I found horizontal base (trading range) between the price of 1.0628 (support) and the price of 1.0701 (resistance). Short-term trend is bearish and my advice is to watch for potential breakout of support and successful re-test to confirm further bearish view. If that happens, downward target will be set at the price of 1.0530.
Resistance levels:
R1: 1.0685
R2: 1.0700
R3: 1.0720
Support levels:
S1: 1.0640
S2: 1.0625
S3: 1.0600
Trading recommendations for today: watch for potential selling opportunities.
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