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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 December 22, 2017

analytics5a3cfc1e1699c.png

Recently, the EUR/USD has been trading downwards. As I expected, the price tested the level of 1.1817. According to the 30M time – frame, I found broken pennant in the background, which is sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at the pice of 1.1820 (FR 50%) and at the price of 1.1800 (FR 61.8%).

Resistance levels:

R1: 1.1893

R2: 1.1910

R3: 1.1933

Support levels:

S1: 1.1850

S2: 1.1830

S3: 1.1812

Trading recommendations for today: watch for potential selling opportunities.

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