FX.co ★ EUR/USD analysis for March 30, 2017

Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level 1.0730. According to the 1H time frame, I found that price is trading inside of the downward channel, which is sign that buying looks risky. The MACD indicator is showing sign of re-continuation of bearish momentum, which is another sign of weakness. My advice is to watch for potential selling opportunities. The take profit level is set at the price of 1.0680.

Resistance levels:

R1: 1.0810

R2: 1.0830

R3: 1.0860

Support levels:

S1: 1.0740

S2: 1.0720

S3: 1.0690

Trading recommendations for today: watch for potential selling opportunities.