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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 April 16, 2018

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Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.2365. According to the M30 time – frame, I found a confirmed intraday ascending triangle, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.2395 and 1.2440.

Resistance levels:

R1: 1.2350

R2: 1.2367

R3: 1.2387

Support levels:

S1: 1.2310

S2: 1.2290

S3: 1.2270

Trading recommendations for today: watch for potential buying opportunities.

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