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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 June 01, 2018

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Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1723. Anyway, according to the H1 time – frame, I found potential end of upward correction, which is a sign that buying at this stage looks risky. I also found a hidden bearish divergence on the MACD oscillator in creation, which is another sign of weakness. My advice is to watch for potential breakout of the upward trendline to confirm a further downward movement. The downward targets are set at the price of 1.1640 and at the price of 1.1600.

Resistance levels:

R1: 1.1701

R2: 1.1720

R3: 1.1738

Support levels:

S1: 1.1665

S2: 1.1645

S3: 1.1627

Trading recommendations for today: watch for potential selling opportunities.

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