Analysis of EUR/USD for November 10, 2017


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1662. According to the 15M timeframe, I found a fake breakout of yesterday's high at the price of 1.1655, which is a sign that buying looks risky today. I also found a confirmation of a fake breakout in the background, which is a sign that there is weakness. Watch for potential selling opportunities. Downward targets are set at the price of 1.1609 (FR 50%), 1.1596 (FR 61.8%) and 1.1578 (FR 78.6%).

Resistance levels:

R1: 1.1669

R2: 1.1697

R3: 1.1738

Support levels:

S1: 1.1600

S2: 1.1558

S3: 1.1530

Trading recommendations for today: watch for potential selling opportunities.

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