Recently, the EUR/USD has been trading sideways at the price of 1.1653. According to the 30M time frame, I found that price respected the upward trend line few times, which is sign that selling looks risky. The EUR/USD is in short term upward trend and my advice is to watch for potential buying opportunities. I also found hidden bullish divergence on the RSI indicator, which is another sign of strength. The upward target is set at the price of 1.1682 and 1.1700.
Resistance levels:
R1: 1.1675
R2: 1.1710
R3: 1.1732
Support levels:
S1: 1.1615
S2: 1.1590
S3: 1.1560
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com