Exchange Rates 21.04.2017 analysis

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Recently, the EUR/USD has been trading downwards. As I expected, the price tested the level of 1.0688. My first target from the previous analysis at the price of 1.0700 has been met. According to the 1H time frame, there is a still hidden bearish divergence on the oscillator in the background, which is a sign that buying still looks risky. My advice is to watch for potential selling opportunities. The targets are set at the prices of 1.0640 and 1.0605.

Resistance levels:

R1: 1.0760

R2: 1.0810

R3: 1.0835

Support levels:

S1: 1.0690

S2: 1.0660

S3: 1.0615

Trading recommendations for today: watch for potential selling opportunities.

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Performed by Petar Jacimovic, Analytical expert
InstaForex Group © 2007-2017

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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