EUR/USD analysis for March 07, 2018

analytics5a9fc835b215a.png

Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2444. According to the 30M time – frame, I found series of higher highs and higher lows, which is a sign that buyers are in control. I also found a bullish cross on the stochastic oscillator, which is another sign of strength. Anyway, watch for a breakout of resistance at 1.2441 to confirm further upward continuation. The upward target is set at the price of 1.2477.

Resistance levels:

R1: 1.2441

R2: 1.2477

R3: 1.2533

Support levels:

S1: 1.2350

S2: 1.2292

S3: 1.2257

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com