EUR/USD analysis for July 11, 2017

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Recently, the EUR/USD has been trading sideways at the price of 1.1400. According to the 30M time frame, I found a triple bottom in the background and broken supply trendline, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1425.

Resistance levels:

R1: 1.1400

R2: 1.1405

R3: 1.1415

Support levels:

S1: 1.1383

S2: 1.1375

S3: 1.1365

Trading recommendations for today: watch for potential buying opportunities.

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