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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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Analysis of EUR/USD for January 18, 2018

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Recently, the EUR/USD pair has been trading sideways at the price of 1.2245. According to the 30M time frame, I found a fake breakout of yesterday's low at the price of 1.2195, which is a sign that selling looks risky. I also found a valid breakout of pivot level (1.2228), which is a sign that buyers are in control. My advice is to watch for potential buying opportuntiies. The upward targets are set at 1.2278 and 1.2370.

Resistance levels:

R1: 1.2279

R2: 1.2374

R3: 1.2425

Support levels:

S1: 1.2133

S2: 1.2082

S3: 1.1987

Trading recommendations for today: watch for potential buying opportunities.

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