Recently, the EUR/USD pair has been trading sideways at the price of 1.1610. According to the M15 time – frame, I found that price rejected from the today's pivot level (1.1625), which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of 1.1585, 1.1560 and at the price of 1.1520.
Resistance levels:
R1: 1.1665
R2: 1.1730
R3: 1.1770
Support levels:
S1: 1.1560
S2: 1.1520
S3: 1.1455
Trading recommendations for today: watch for potential selling opportunities.
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