Recently, EUR/USD has been trading downwards. The price tested the level of 1.1639. According to the H1 time frame, I found a breakout of the bearish flag pattern in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. I have placed Fibonacci expansion to find potential targets. I got Fibonacci expansion 100% at the price of 1.1585 and Fibonacci expansion 161.8% at the price of 1.1525.
Resistance levels: R1: 1.1381R2: 1.1703 R3: 1.1733
Support levels: S1: 1.1630S2: 1.1600S3: 1.1577 Trading recommendations for today: watch for potential selling opportunities.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.