Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level 1.0730. According to the 1H time frame, I found that price is trading inside of the downward channel, which is sign that buying looks risky. The MACD indicator is showing sign of re-continuation of bearish momentum, which is another sign of weakness. My advice is to watch for potential selling opportunities. The take profit level is set at the price of 1.0680.
Resistance levels:
R1: 1.0810
R2: 1.0830
R3: 1.0860
Support levels:
S1: 1.0740
S2: 1.0720
S3: 1.0690
Trading recommendations for today: watch for potential selling opportunities.
