Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1588. According to the 15M time-frame, I found that price is trading below the pivot level (1.1633), which is a sign that sellers are in control. I also found bearish breakout of intraday trading range, which is another sign of weakness. My advice is to watch for potential selling opportunties. The downward targets are set at the price of 1.1542 (pivot support 2) and 1.1485 (pivot support 3, extreme target).
Resistance levels:
R1: 1.1667
R2: 1.1725
R3: 1.1760
Support levels:
S1: 1.1575
S2: 1.1541
S3: 1.1485
Trading recommendations for today: watch for potential selling opportunities.
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