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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 August 30, 2018

analytics5b87d284b4833.png

Recently, the EUR/USD pair has been trading sideways at the price of 1.1696. According to the M30 time – frame, I found the price rejected from the resistance pivot cluster at 1.1708, which is a sign that buying looks very risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.1652 and at the price of 1.1630.

Resistance levels:

R1: 1.1727

R2: 1.1747

R3: 1.1785

Support levels:

S1: 1.1669

S2: 1.1631

S3: 1.1611

Trading recommendations for today: watch for selling opportunities.

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