Source: Forex Analysis
EUR/USD has been trading downwards today as we predicted yesterday. The price tested the level of 1.12318. Strong downward movement is present and our advice is to watch for any rally for selling opportunities.
Blue rectangle – horizontal support 1 (1.1210)
Pink rectangle- horizontal support 2 (1.1120)
White line – Broken support trendline
Blue lines – Broken upward channel in the background
Strong downward momentum today is the result of the broken important support from yesterday. MACD oscillator is showing us new momentum down, which is sign that buying looks extremely risky today. Downward targets are set at the price of 1.1210 and 1.1120. Resistance levels are set at the price of 1.1269 and 1.1288.We found no signs of any reversal yet, so it is safe to watch for selling opportunities on the rallies.,The material has been provided by InstaForex Company – www.instaforex.com