EUR/USD analysis for June 20, 2018


Recently, EUR/USD has been trading sideways at the price of 1.1566. According to the H1 time - frame, I found potential C wave in creation, which is a sign that selling looks risky. I also found a hidden bullish divergence in the background, which is another sign of strength. My advice is to watch for a potential breakout of intraday supply trendline to confirm further upward movement. The upward targets are set at the price of 1.1630 and at the price of 1.1690.

Resistance levels:

R1: 1.1582

R2: 1.1597

R3: 1.1605

Support levels:

S1: 1.1558

S2: 1.1550

S3: 1.1535

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -