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Recently, the EUR/USD has been trading sideways at the price of 1.1740. According to the 4H time frame, I found a broken bullish channel in the background and testing of supply trend line, which is a sign that buying looks risky. I also found lower lows and lower highs, which is another sign of potential change in trend dynamic from bullish to bearish. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1630 and 1.1500.
Resistance levels:
R1: 1.1790
R2: 1.1815
R3: 1.1865
Support levels:
S1: 1.1710
S2: 1.1660
S3: 1.1630
Trading recommendations for today: watch for potential selling opportunities.
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