Recently, the EUR/USD pair has been trading sideways at the price of 1.1777. Anyway, according to the 15M time - frame, I found a broken upward channel in the background, which is a sign that buying looks risky. I also found a bearish momentum on the MACD oscillator, which is another sign of weakness. The short-term trend is bearish. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1730.
Resistance levels:
R1: 1.1800
R2: 1.1830
R3: 1.1845
Support levels:
S1: 1.1750
S2: 1.1733
S3: 1.1700
Trading recommendations for today: watch for potential selling opportunities.
