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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/USD analysis for December 26, 2017

analytics5a4240a21b9be.png

Recently, the EUR/USD has been trading sideways at the price of 1.1852. According to the 30M time - frame, I found that price has broken the upward trendline in the background, which is a sign that buying looks risky. I also found a bearish flag pattern in creation, which is another sign of weakness. My advice is to watch for potential selling opportunities. I have placed Fibonacci expansion to find potential downward targets. I got FE 61.% at the price of 1.1824, FE 100% at the price of 1.1793 and FE 161.8% at the price of 1.1740.

Resistance levels:

R1: 1.1884

R2: 1.1905

R3: 1.1945

Support levels:

S1: 1.1825

S2: 1.1790

S3: 1.1765

Trading recommendations for today: watch for potential selling opportunities.

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