Exchange Rates 11.08.2017 analysis

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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.

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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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