EUR/USD analysis for September 01, 2017

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Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1929 in an ultra high volume. According to the 30M time frame, I found a fake breakout of yesterday's high at the price of 1.1922, which is a sign of weakness. There is a buying climax and wide spread of the bar was fallowed by no demand bars, which is another strong sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1880 and 1.1830.

Resistance levels:

R1: 1.1940

R2: 1.1970

R3: 1.2030

Support levels:

S1: 1.1850

S2: 1.1790

S3: 1.1760

Trading recommendations for today: watch for potential selling opportunities.

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