EUR/USD analysis for August 29, 2017


Recently, the EUR/USD has been trading upwards. The price tested the level of 1.2070 in an ultra high volume. Anyway, according to the 15M time frame, I found buying climax in the background, which is a sign of weakness. After the climax activity, I found a no demand bar and upthrust, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1985.

Resistance levels:

R1: 1.2000

R2: 1.2030

R3: 1.2070

Support levels:

S1: 1.1935

S2: 1.1890

S3: 1.1865

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -