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EUR/USD analysis for April 20, 2017

April 20, 2017
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Recently, the EUR/USD has been trading upwards. The price tested the level of 1.0777. According to the `H time frame, I found a divergent bar and hidden bearish divergence on the oscilators, which is a sign that buyng look risky. I expect a downward corection at least. Downward targets are set at the prices of 1.0700 and 1.0640.

Resistance levels:

R1: 1.0735

R2: 1.0740

R3: 1.0750

Support levels:

S1: 1.0715

S2: 1.0705

S3: 1.0700

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

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