EUR/USD analysis for August 25, 2017


Recently, the EUR/USD has been trading upwards. The price tested the level of 1.1828. Anyway, according to the 30M time frame, I found a fake breakout of 2-day high and weakness in the background, which is a sign that buying looks risky. Stochastic oscillator showing an overbought condition, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1775.

Resistance levels:

R1: 1.1820

R2: 1.1840

R3: 1.1860

Support levels:

S1: 1.1780

S2: 1.1760

S3: 1.1740

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -