EUR/USD analysis for July 07, 2017

analytics595f6f1803462.png

Recently, the EUR/USD has been trading sideways at the price of 1.1410. Anyway, according to the 15M time frame, I found that buyers are in control and there is a strong upward channel. My advice is to watch for potential buying opportunities. The first upward target is set at the price of 1.1445. I also found a hidden bullish divergence on the moving average oscillator, which is another sign of strength.

Resistance levels:

R1: 1.1430

R2: 1.1440

R3: 1.1451

Support levels:

S1: 1.1410

S2: 1.1400

S3: 1.1390

Trading recommendations for today: watch for potential buying opportunities.

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