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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 September 05, 2017

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Recently, the EUR/USD pair has been trading sideways at the price of 1.1900. According to the 30M time frame, I found a strong resistance cluster at the price of 1.1925. The price is trading near the resistance cluster and my advice is to watch for potential selling opportunities. The downward targets are set at the prices of 1.1850 and 1.1825. There is also a strong weakness in the background from the last week, which is another sign that buying looks risky.

Resistance levels:

R1: 1.1930

R2: 1.1960

R3: 1.2000

Support levels:

S1: 1.1860

S2: 1.1820

S3: 1.1790

Trading recommendations for today: watch for potential selling opportunities.

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