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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 January 10, 2018

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Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2016. According to the daily time – frame, I found a successful rejection from the support (a swing high became resistance), which is a sign that selling looks risky. I also found a bulish engulfing candle pattern, which is another sign of strength. The upward target is set at the price of 1.2080.

Resistance levels:

R1: 1.1970

R2: 1.2002

R3: 1.2030

Support levels:

S1: 1.1910

S2: 1.1880

S3: 1.1850

Trading recommendations for today: watch for potential buying opportunities.

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