EUR/USD analysis for December 18, 2017


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1798. According to the 15M time – frame, I found successful rejection from pivot resistance 1 at the price of 1.1792. I also found a hidden bearish divergence on the stochastic oscillator, which is sign that buying looks risky.

Resistance levels:

R1: 1.1792

R2: 1.1835

R3: 1.1855

Support levels:

S1: 1.1730

S2: 1.1710

S3: 1.1667

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -