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EUR/USD analysis for May 24, 2017

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Recently, the EUR/USD has been trading downwards. As I expected, the price tested the level of 1.1170. Anyway, according to the 15M time frame, I found a fake breakout of yesterday's low at the price of 1.1175. There is also a hidden bullish divergence on the moving average oscillator, which is another sign of potential strength. I have placed Fibonacci retracement to find potential upward targets. I got Fibonacci retracement 50% at the price of 1.1220 and Fibonacci retracement 61.8% at the price of 1.1230. My advice is to watch for buying opportunities today.

Resistance levels: R1: 1.1245 R2: 1.1265 R3: 1.1305 Support levels: S1: 1.1170 S2: 1.1150 S3: 1.1110

Trading recommendations for today: watch for potential buying opportunities.

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