FX.co ★ EUR/USD analysis for February 20, 2017

Recently, the EUR/USD pair has been trading sideways at the price of 1.0620. According to the 15 time frame, I found potential parabolic bottoming, which is a sign that selling looks risky. There is a hidden bullish divergence on the moving average oscillator, which is another sign of potential strength. My advice is to watch for potential buying opportunities. The first target is set at the price of 1.0665 (swing high).

Resistance levels:

R1: 1.0630

R2: 1.0635

R3: 1.0645

Support levels:

S1: 1.0610

S2: 1.0603

S3: 1.0590

Trading recommendations for today: watch for potential buying opportunities.