FX.co ★ EUR/USD analysis for March 22, 2017

Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.0775. According to the 1H time frame, I found corrective ABC pattern, which is a sign that selling looks risky. The short-term trend is bullish and my advice is to watch only for buying opportunities. The price respected the 60-period simple moving average, which is another sign of strength. An upward target is set at the price of 1.0818.

Resistance levels:

R1: 1.0823

R2: 1.0850

R3: 1.0888

Support levels:

S1: 1.0745

S2: 1.0720

S3: 1.0680

Trading recommendations for today: watch for potential buying opportunities.