Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1989 in a low volume. According to the 30M time frame, I found a broken pennant formation, which is a sign that selling looks risky. I found intraday support at the price of 1.1995. There is also a hidden divergence on the moving average oscilator, which is another sign of strength. Watch for potential buying opportuntiies. The upward targets are set at the price of 1.2030, 1.2075 and 1.2090.
Resistance levels:
R1: 1.2025
R2: 1.2030
R3: 1.2040
Support levels:
S1: 1.2010
S2: 1.2000
S3: 1.1995
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com