EUR/USD analysis for March 02, 2018


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2322. According to the 30M time – frame, I found successful rejection of the lower diagonal of the upper channel, which is a sign that buyers are in control. 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 1.2350 and at the price of 1.2420.

Resistance levels:

R1: 1.2310

R2: 1.2315

R3: 1.2420

Support levels:

S1: 1.2190

S2: 1.2113

S3: 1.2072

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -