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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 June 20, 2018

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Recently, EUR/USD has been trading sideways at the price of 1.1566. According to the H1 time - frame, I found potential C wave in creation, which is a sign that selling looks risky. I also found a hidden bullish divergence in the background, which is another sign of strength. My advice is to watch for a potential breakout of intraday supply trendline to confirm further upward movement. The upward targets are set at the price of 1.1630 and at the price of 1.1690.

Resistance levels:

R1: 1.1582

R2: 1.1597

R3: 1.1605

Support levels:

S1: 1.1558

S2: 1.1550

S3: 1.1535

Trading recommendations for today: watch for potential buying opportunities.

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