Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1764. According to the 30M time – frame, I found out that Fibonacci retracement 38.2% is on the test, which is a sign that buying looks risky. I also found a poor low from yesterday, which indicates that EUR/USD might create new low. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1750 and at the price of 1.1730.
Resistance levels:
R1: 1.1836
R2: 1.1895
R3: 1.1927
Support levels:
S1: 1.1745
S2: 1.1711
S3: 1.1652
Trading recommendations for today: watch for potential selling opportunities.
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