EUR/USD analysis for March 12, 2018


Recently, the EUR/USD has been trading upwards. The price tested the level of 1.2340. Anyway, according to the 30M time – frame, I found a successful rejection of the pivot resistance 1 at the price of 1.2335, which is a sign of weakness. I also found a hidden bearish divergence on the moving average oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2305 and at the price of 1.2275.

Resistance levels:

R1: 1.2335

R2: 1.2365

R3: 1.2395

Support levels:

S1: 1.2275

S2: 1.2243

S3: 1.2215

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -