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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/USD analysis for November 22, 2017

analytics5a1575683941d.png

Recently, the EUR/USD pair has been trading 1.1740. According to the 15M time - frame, I found successful rejection from pivot level at the price of 1.1735, which is a sign that selling looks risky. I also found a broken supply trendline and a hidden bullish divergence 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 1.1759 (pivot resistance 1), 1.1780 (pivot resistance 2) and at the price of 1.1804 (pivot resistance 3).

Resistance levels:

R1: 1.1759

R2: 1.1780

R3: 1.1804

Support levels:

S1: 1.1715

S2: 1.1692

S3: 1.1670

Trading recommendations for today: watch for potential buyingg opportunities.

The material has been provided by InstaForex Company - www.instaforex.com