EUR/USD analysis for August 27, 2018


Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1594. Anyway, according to the M30 time – frame, I found rejection of the today's pivot level at the price of 1.1598, which is a sign that selling looks risky. I also found a broken supply trendline and oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.1660 (R1) and at the price of 1.1700 (R2).

Resistance levels:

R1: 1.1661

R2: 1.1703

R3: 1.1766

Support levels:

S1: 1.1556

S2: 1.1493

S3: 1.1450

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -