EUR/USD analysis for June 27, 2018


Recently, EUR/USD has been trading downwards. The price tested the level of 1.1623. According to the H1 time - frame, I found a potential end of the upward correction (abc flat) in the background, which is a sign that buying looks risky. I also found a breakout of the upward trendline and bearish flag in the background, which is another sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1510.

Resistance levels: R1: 1.1700R2: 1.1750R3: 1.1785

Support levels: S1: 1.1615S2: 1.1858S3: 1.1530

Trading recommendations for today: watch for potential buying selling opportunities.

The material has been provided by InstaForex Company -