Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1599. According to the M30 time – frame, I found a rejection of the yesterday's high at the price of 1.1600 and testing of upper diagonal of the upward channel, which is a sign that buying looks risky. I also found overbought condition on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1529 and at the price of 1.1486.
Resistance levels:
R1: 1.1581
R2: 1.1625
R3: 1.1651
Support levels:
S1: 1.1511
S2: 1.1485
S3: 1.1411
Trading recommendations for today: watch for potential selling opportunities.
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