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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 11, 2017

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Recently, the EUR/USD has been trading upwards. The price tested the level of 1.1785. According to the 30M time frame, I found fake breakout of resistance, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1715.

Resistance levels:

R1: 1.1805

R2: 1.1840

R3: 1.1890

Support levels:

S1: 1.1720

S2: 1.1670

S3: 1.1640

Trading recommendations for today: watch for potential selling opportunities.

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