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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 February 05, 2018

analytics5a782ba103c28.png

Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.2409. Anyway, according to the 30M time – frame, I found a breakout of intraday pennant, which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.2520.

Resistance levels:

R1: 1.2511

R2: 1.2569

R3: 1.2620

Support levels:

S1: 1.2402

S2: 1.2350

S3: 1.2293

Trading recommendations for today: watch for potential buying opportunities.

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