EUR/USD analysis for January 19, 2018


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2295. According to the 30M time – frame, I found a successful rejection of pivot resistance 1 at the price of 1.2281, which is a sign that buying looks risky. I also found a hidden bearish divergence on the moving average oscillator, which is another sign of weaknesss. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2223 and at the price of 1.2182.

Resistance levels:

R1: 1.2281

R2: 1.2323

R3: 1.2380

Support levels:

S1: 1.2180

S2: 1.2123

S3: 1.2080

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -