Recently, the EUR/USD pair has been trading sideways at the price of 1.1669. According to the 15M time – frame, I found testing of Friday's high at the price of 1.1675, which is a sign that buying looks risky. I also found overbought conditions on the stochastic oscillator, which is sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1633 (pivot support 1) and at the price of 1.1600 (pivot support 2).
Resistance levels:
R1: 1.1688
R2: 1.1710
R3: 1.1743
Support levels:
S1: 1.1633
S2: 1.1600
S3: 1.1577
Trading recommendations for today: watch for potential selling opportunities.
