EUR/USD analysis for May 11, 2018


Recently, EUR/USD has been trading upwards. The price tested the level of 1.1946. According to the H1 time - frame, I found a broken short-term downward channel, which is a sign that selling looks risky. I also found a potetnial leading diagonal in creation and hidden bullish divergence on the RSI oscillator in the background, which is a sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.2000.

Resistance levels: R1: 1.1960R2: 1.2006R3: 1.2065 Support levels: S1: 1.1857S2: 1.1798 S3: 1.1753

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -