EUR/USD analysis for August 11, 2017

2017-08-11 11:37:10

analytics598d960e9d3bb.png

Recently, the EUR/USD has been trading upwards. The price tested the level of 1.1785. According to the 30M time frame, I found fake breakout of resistance, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1715.

Resistance levels:

R1: 1.1805

R2: 1.1840

R3: 1.1890

Support levels:

S1: 1.1720

S2: 1.1670

S3: 1.1640

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com

Latest News & Daily Analysis