Currency pair EURUSD, technical analysis. The basis of the trading strategy - support and resistance levels, RSI and AO indicators.
Currently, the market is flat, everyone is waiting for news from the Strait of Hormuz. The pair has tested the support level and is now preparing for a correction. Now let's see what the indicators on the H1 timeframe are saying. The pair has slightly risen, but has not reached the target and turned around. On the chart, it can be seen that the pair tested the level of 1.1430 and is currently trading at a price of 1.1432. RSI is moving in the middle of the range and hesitantly looking upwards, AO is showing a weak selling signal, and the price of the EUR/USD pair is below the trading range of the previous day. The signals are not very strong, but there is a possibility of a slight increase. I assume that the price will test the resistance level of 1.1480. Based on the analysis, cautious buying is recommended up to 1.1470. However, it is better to keep the risks moderate, so do not forget about stop losses.
