Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.2198. According to the 1H time – frame, I found a bearish breakout of 3-day balance in the background, which is a sign that sellers are in control. I also found that the pair is trading inside of the downward channel, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2162 and at the price of 1.2050.
Resistance levels:
R1: 1.2315
R2: 1.2390
R3: 1.2438
Support levels:
S1: 1.2190
S2: 1.2142
S3: 1.2063
Trading recommendations for today: watch for potential selling opportunities.
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