EUR/USD analysis for October 04, 2017


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1787. Anyway, according to the 30M time- frame, I found a fake breakout of yesterday's high at the price of 1.1773, which is sign that buying looks risky. There is a hidden bearish divergence on the moving average oscilator, which is another sign of weakness. My advice is to watch for potential selling opportuntiies. The downward targets are set at the price of 1.1750, 1.1735 and 1.1700.

Resistance levels:

R1: 1.1773

R2: 1.1790

R3: 1.1800

Support levels:

S1: 1.1745

S2: 1.1731

S3: 1.1715

Trading recommendations for today: watch for potential selling opportunities.

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