EUR/USD analysis for November 17, 2017


Recently, the EUR/USD has been trading upwards. The price tested the level of 1.2821.According to the 30M time - frame, I found that price is trading above the pivot level (1.1775), which is sign that buyers are in control. I also found oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1838.

Resistance levels:

R1: 1.1794

R2: 1.1820

R3: 1.1838

Support levels:

S1: 1.1749

S2: 1.1739

S3: 1.1705

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -