EUR/USD analysis for November 16, 2017


Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1756. According to the 15 time - frame, I found successful rejection from the pivot support 1 at the price of 1.1763, which is sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunties. The upwards targets are set at the price of 1.1811 (pivot level) and at the price of 1.1839 (pivot resistance 1).

Resistance levels:

R1: 1.1812

R2: 1.1839

R3: 1.1888

Support levels:

S1: 1.1763

S2: 1.1736

S3: 1.1687

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -