Recently, the EUR/USD has been trading sideways at the price of 1.1200. According to the 1H time frame, I found an expanding wedge and broken supply trednline, which are signs of potential strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1270. There is also a hidden bullish divergence on the moving average oscilator, which is another sign of strength.
Resistance levels:
R1: 1.1225
R2: 1.1244
R3: 1.1255
Support levels:
S1: 1.1200
S2: 1.1185
S3: 1.1165
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com