EUR/USD analysis for October 30, 2017


Recently, the EUR/USD has been trading upwards at the price of 1.1642. Anyway, according to the 15M time – frame, I found that price failed to test pivot resistance 1 at 1.1652, which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1613 (pivot) and 1.1570 (pivot support 1).

Resistance levels:

R1: 1.1652

R2: 1.1696

R3: 1.1735

Support levels:

S1: 1.1570

S2: 1.1530

S3: 1.1485

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -