EUR/USD analysis for August 17, 2018


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1419. According to the M30 time – frame, I found a false breakout of the yesterday's high at the price of 1.1408, which is a sign that buying looks risky. I also found the level of 1.1400 (round number) to be a critical resistance at this stage. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1350, 1.1337, and 1.1300.

Resistance levels:

R1: 1.1410

R2: 1.1445

R3: 1.1483

Support levels:

S1: 1.1337

S2: 1.1299

S3: 1.1264

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -