EUR/USD analysis for December 01, 2017

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Recently, EUR/USD has been trading sideways at the price of 1.1898. Anyway, according to the 15M time – frame, I found rejection from pivot level at the price of 1.1881, which is a sign that selling looks risky. I also found an oversold condition on the stochastic oscillator, which is another sign of strength. The trend is bullish. My advice is to watch for potential buying opportunities. Upward targets are set at the price of 1.1950 (pivot resitance 1) and at the price of 1.2000 (pivot resistance 2).

Resistance levels:

R1: 1.1954

R2: 1.2000

R3: 1.2075

Support levels:

S1: 1.1830

S2: 1.1760

S3: 1.1710

Trading recommendations for today: watch for potential buying opportunities.

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