EUR/USD analysis for November 20, 2017


Recently, the EUR/USD has been trading sideways at the price of 1.1784. According to the 15M time - frame, I found a bullish flag in creation, which is a sign that selling looks risky. I also found the oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.1808 (swing high) and at the price of 1.1847 (pivot support 2).

Resistance levels:

R1: 1.1817

R2: 1.1847

R3: 1.1874

Support levels:

S1: 1.1761

S2: 1.1735

S3: 1.1705

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -