Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1370. The downward channel is broken and that is a good sign of strength. My advice is to watch for potential buying opportunities. The price also re-tested previous day's high, which is another sign of strength. The upward target is set at the price of 1.1425.
Resistance levels:
R1: 1.1375
R2: 1.1400
R3: 1.1435
Support levels :
S1: 1.1320
S2: 1.1290
S3: 1.1260
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com