Recently, the EUR/USD has been trading upwards. The price tested the level of 1.1644. According to the 15M time – frame, I found an evening star formation at the pivotal resistance 3 (1.1640), which is sign that buying looks risky. I also found overbought 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 1.1615 and 1.1590.
Resistance levels:
R1: 1.1610
R2: 1.1627
R3: 1.1642
Support levels:
S1: 1.1578
S2: 1.1563
S3: 1.1545
Trading recommendations for today: watch for potential selling opportunities.
