Recently, the EUR/USD pair has been trading sideways at the price of 1.1740. According to the 30M time- frame, I found a double fake breakout in the background and successful breakout of upawrd trendline, which is a sign that buying looks risky. There is also a hidden bearish divergence on the moving average osiclator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1700 and 1.1650.
Resistance levels:
R1: 1.1785
R2: 1.1800
R3: 1.1820
Support levels:
S1: 1.1760
S2: 1.1740
S3: 1.1725
Trading recommendations for today: watch for potential selling opportunities.
