EUR/USD analysis for April 09, 2018

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Recently, the EUR/USD has been trading upwards. The price tested the level of 1.2290. Anyway, according to the 15M time – frame, I found a hidden bearish divergence on the LBR oscillator, which is a sign that buying looks risky. I also found potential end of ABC upward correction in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2253 and at the price of 1.2220.

Resistance levels:

R1: 1.2310

R2: 1.2338

R3: 1.2385

Support levels:

S1: 1.2234

S2: 1.2185

S3: 1.2160

Trading recommendations for today: watch for potential selling opportunities.

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