EUR/USD analysis for December 15, 2017


Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1764. According to the 30M time – frame, I found out that Fibonacci retracement 38.2% is on the test, which is a sign that buying looks risky. I also found a poor low from yesterday, which indicates that EUR/USD might create new low. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1750 and at the price of 1.1730.

Resistance levels:

R1: 1.1836

R2: 1.1895

R3: 1.1927

Support levels:

S1: 1.1745

S2: 1.1711

S3: 1.1652

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -