EUR/CHF analysis for May 15, 2018

Recently, the EUR/CHF pair has been trading downwards. As I expected, the price tested the level of 1.1924. According to the H1 time – frame, I found a broken upward trendline, which is a sign that buying looks risky. I also found confirmed hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1870.

Resistance levels:

R1: 1.1970

R2: 1.2005

R3: 1.2025

Support levels:

S1: 1.1915

S2: 1.1895

S3: 1.1860

Trading recommendations for today: watch for potential selling opportunities.