Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2016. According to the daily time – frame, I found a successful rejection from the support (a swing high became resistance), which is a sign that selling looks risky. I also found a bulish engulfing candle pattern, which is another sign of strength. The upward target is set at the price of 1.2080.
Resistance levels:
R1: 1.1970
R2: 1.2002
R3: 1.2030
Support levels:
S1: 1.1910
S2: 1.1880
S3: 1.1850
Trading recommendations for today: watch for potential buying opportunities.
