EUR/USD analysis for March 09, 2018


Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.2290. Anyway, according to the 30M time frame, I found a fake breakout of yesterday's low at the price of 1.2260, which is a sign that selling at this stage looks risky. 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 target is set at the price of 1.2350.

Resistance levels:

R1: 1.2405

R2: 1.2500

R3: 1.2555

Support levels:

S1: 1.2258

S2: 1.2205

S3: 1.2110

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -