EUR/USD analysis for August 03, 2017

analytics5983178561a14.png

Recently, the EUR/USD has been trading sideways at the price of 1.1865. According to the 30M time frame, I found a bullish breakout of the intraday flat base, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The short-term trend is bullish. The upward target is set at the price of 1.1910.

Resistance levels:

R1: 1.1915

R2: 1.1970

R3: 1.2035

Support levels:

S1: 1.1795

S2: 1.1735

S3: 1.1675

Trading recommendations for today: watch for potential buying opportunities.

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