EUR/USD analysis for February 15, 2018


Recently, the EUR/USD has been trading upwards. The price tested the level of 1.2510. Anyway, according to the 30M time-frame, I found that the price failed to test a pivot resistance 1 at 1.2515, which is a sign that buyers lost power. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.2395.

Resistance levels:

R1: 1.2518

R2: 1.2585

R3: 1.2710

Support levels:

S1: 1.2330

S2: 1.2210

S3: 1.2145

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -