EUR/USD analysis for January 02, 2019


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1496. According to the H1 time – frame, I found a fake breakout of resistance at the level of 1.1478, which is a sign that buyers got trapped. I also found that potential end of the upward correction (abc flat) and a hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.1342 and at the price of 1.1270.

The material has been provided by InstaForex Company –

Source:: EUR/USD analysis for January 02, 2019

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