Recently, the EUR/USD pair has been trading sideways at the price of 1.1587. According to the H1 time frame, I found a potential bullish flag in creation, which is a sign that selling looks risky. My advice is to watch for potential breakout of a bullish flag to confirm further upward movement. The upward target is set at the price of 1.1625.
Resistance levels:
R1: 1.1600
R2: 1.1610
R3: 1. 1615
Support levels:
S1: 1.1587
S2: 1.1580
S3: 1.1570
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com