EUR/USD analysis for September 25, 2017


Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1862. According to the 30M time frame, I found a broken Asian ses. low and weak demand in the background, which is a sign that buying looks risky. I also found that price is trading in the downward channel, which is another sign of weakness. My advice is to watch for potential selling opportunities. I placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 100% at the price of 1.1830 and Fibonacci expansion 161.8% at the price of 1.1760.

Resistance levels:

R1: 1.1935

R2: 1.1964

R3: 1.1965

Support levels:

S1: 1.1910

S2: 1.1888

S3: 1.1880

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -