EUR/USD analysis for December 22, 2017

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Recently, the EUR/USD has been trading downwards. As I expected, the price tested the level of 1.1817. According to the 30M time – frame, I found broken pennant in the background, which is sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at the pice of 1.1820 (FR 50%) and at the price of 1.1800 (FR 61.8%).

Resistance levels:

R1: 1.1893

R2: 1.1910

R3: 1.1933

Support levels:

S1: 1.1850

S2: 1.1830

S3: 1.1812

Trading recommendations for today: watch for potential selling opportunities.

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