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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 27, 2018

analytics5b3350813f043.png

Recently, EUR/USD has been trading downwards. The price tested the level of 1.1623. According to the H1 time - frame, I found a potential end of the upward correction (abc flat) in the background, which is a sign that buying looks risky. I also found a breakout of the upward trendline and bearish flag in the background, which is another sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1510.

Resistance levels: R1: 1.1700R2: 1.1750R3: 1.1785

Support levels: S1: 1.1615S2: 1.1858S3: 1.1530

Trading recommendations for today: watch for potential buying selling opportunities.

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