FX.co ★ EUR/USD analysis for May 22, 2018

Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1829. According to the H1 time – frame, I found a valid breakout of the downward channel (ending diagonal), which is a sign that selling looks risky. I also found a hidden bullish divergence on the MACD oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1995.

Resistance levels:

R1: 1.1820

R2: 1.1850

R3: 1.1900

Support levels:

S1: 1.1740

S2: 1.1690

S3: 1.1660

Trading recommendations for today: watch for potential buying opportunities.