Recently, the EUR/USD has been trading sideways at the price of 1.1590. According to the 15M time - frame, I found that price failed to test pivot resistance 1 at the level of 1.1617, which is 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 1.550 (pivot support 1) and at the price of 1.1524 (pivot support 2).
Resistance levels:
R1: 1.1617
R2: 1.1647
R3: 1.1687
Support levels:
S1: 1.1550
S2: 1.1524
S3: 1.1495
Trading recommendations for today: watch for potential selling opportunities.
