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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/USD analysis for August 04, 2017

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Recently, the EUR/USD has been trading sideways at the price of 1.1872. Anyway, according to the 30M time frame, I found a buying climatic action in the background and supply came in, which is a sign that buying looks risky. There is also a breakout of the symmetrical triangle, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1845 and 1.1815.

Resistance levels:

R1: 1.1900

R2: 1.1930

R3: 1.1965

Support levels:

S1: 1.1835

S2: 1.1800

S3: 1.1770

Trading recommendations for today: watch for potential selling opportunities.

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