Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.2409. Anyway, according to the 30M time – frame, I found a breakout of intraday pennant, which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.2520.
Resistance levels:
R1: 1.2511
R2: 1.2569
R3: 1.2620
Support levels:
S1: 1.2402
S2: 1.2350
S3: 1.2293
Trading recommendations for today: watch for potential buying opportunities.
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