EUR/USD analysis for January 11, 2018

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Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1929. Anyway, according to the 1H time – frame, I found a fake breakout of the support trendline, which is sign that selling looks risky. I also found a hidden bullish divergence on the moving average oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.1970 and at the price of 1.2015.

Resistance levels:

R1: 1.2003

R2: 1.2060

R3: 1.2099

Support levels:

S1: 1.1907

S2: 1.1865

S3: 1.1811

Trading recommendations for today: watch for potential buying opportunities.

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