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EUR/USD analysis for May 09, 2017

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Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.0903. According to the daily time frame, I found a bearish outside bar (reversal bar) and today the market made a high first and then the price made a new low, which is a sign that sellers are in control. My advice is to watch for selling opportunities. Targets are set at the price of 1.0855 and 1.0820.

Resistance levels:

R1: 1.0995

R2: 1.1020

R3: 1.1065

Support levels:

S1: 1.0912

S2: 1.0890

S3: 1.0845

Trading recommendations for today: consider selling opportunities.

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