EUR/USD analysis for August 28, 2018

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Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1699. According to the M30 time – frame, I found that buyers are in control and that price is trading above the daily pivot (1.1654), which is a sign that selling looks risky. I also found a broken intraday bullish flag pattern and hidden bullish divergence 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 1.1715 and at the price of 1.1750.

Resistance levels:

R1: 1.1715

R2: 1.1750

R3: 1.1814

Support levels:

S1: 1.1615

S2: 1.1555

S3: 1.1517

Trading recommendations for today: watch for potential buying opportunities.

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