EUR/USD analysis for July 17, 2017


Recently, the EUR/USD pair has been upwards. As I expected, the price tested the level of 1.1475. I found an upward channel that means that buyers are in control today. My advice is to watch for potential buying opportunities. I have placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 61.8% at the price of 1.1500 and Fibonacci expansion 100% at the price of 1.1540.

Resistance levels:

R1: 1.1465

R2: 1.1480

R3: 1.1490

Support levels:

S1: 1.1435

S2: 1.1420

S3: 1.1405

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -