EUR/USD analysis for August 29, 2018

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Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1664. Anyway, according to the M30 time – frame, I found strong intraday support at the price of 1.1660 (support 1 and yesterday's low), which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.1697 and at the price of 1.1730.

Resistance levels:

R1: 1.1730

R2: 1.1767

R3: 1.1800

Support levels:

S1: 1.1660

S2: 1.1622

S3: 1.1589

Trading recommendations for today: watch for potential buying opportunities.

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