Recently, the EUR/USD has been trading upwards at the price of 1.1642. Anyway, according to the 15M time – frame, I found that price failed to test pivot resistance 1 at 1.1652, which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1613 (pivot) and 1.1570 (pivot support 1).
Resistance levels:
R1: 1.1652
R2: 1.1696
R3: 1.1735
Support levels:
S1: 1.1570
S2: 1.1530
S3: 1.1485
Trading recommendations for today: watch for potential selling opportunities.
