EUR/USD analysis for April 25, 2018


Recently, the EUR/USD has been trading downwards. The price tested the level of 1.2186. According to the M30 time frame, I found strong intraday selling pressure (ADX reading above 30), which is a sign that buying looks risky. I also found that ADX peaked on the rally, which is another sign that potential downward pressure may resume. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2186 and at the price of 1.2155.

Resistance levels:

R1: 1.2256

R2: 1.2283

R3: 1.2320

Support levels:

S1: 1.2195

S2: 1.2157

S3: 1.2132

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -