EUR/USD analysis for November 13, 2017


Recently, the EUR/USD pair has been trading sideways at the price of 1.1669. According to the 15M time – frame, I found testing of Friday's high at the price of 1.1675, which is a sign that buying looks risky. I also found overbought conditions on the stochastic oscillator, which is sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1633 (pivot support 1) and at the price of 1.1600 (pivot support 2).

Resistance levels:

R1: 1.1688

R2: 1.1710

R3: 1.1743

Support levels:

S1: 1.1633

S2: 1.1600

S3: 1.1577

Trading recommendations for today: watch for potential selling opportunities.

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