Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of 1.0570. According to the 4H time frame, I found broken horizontal flat base (re-distribution), which is a sign that sellers are in control. My advice is to watch for potetnial selling opportunties. The downward targets are set at the price of 1.0530 and 1.0500. The short term trend is bearish.
Resistance levels:
R1: 1.0575
R2: 1.0570
R3: 1.0560
Support levels:
S1: 1.0590
S2: 1.0595
S3: 1.0600
Trading recommendations for today: watch for potential selling opportunities.
