EUR/USD analysis for November 28, 2017


Recently, the EUR/USD has been trading downwards. The price tested the level of 1.1874. According to the 30M time - frame, I found rejection from the pivot support 1 at the price of 1.1875, which is a sign that selling looks risky.Also, I found hammer and doji candles together with an oversold condition on a stochastic oscillator, which is a sign of potential strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.1917 (pivot level), 1.1940 (pivot resistance 1) and at the price of 1.1983 (pivot resistance 2).

Resistance levels:

R1: 1.1940

R2: 1.1983

R3: 1.2007

Support levels:

S1: 1.1875

S2: 1.1853

S3: 1.1810

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -