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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 November 17, 2017

analytics5a0eccf9b1bb1.png

Recently, the EUR/USD has been trading upwards. The price tested the level of 1.2821.According to the 30M time - frame, I found that price is trading above the pivot level (1.1775), which is sign that buyers are in control. I also found oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1838.

Resistance levels:

R1: 1.1794

R2: 1.1820

R3: 1.1838

Support levels:

S1: 1.1749

S2: 1.1739

S3: 1.1705

Trading recommendations for today: watch for potential buying opportunities.

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