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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 July 20, 2018

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Recently, EUR/USD has been trading upwards. As I expected, the price tested the level of 1.1678. Acording to the H1 time - frame, I found rejection from the support trendline in the background, which is a sign that selling looks risky. I also found a potential end of the downward correction (abc flat) and hidden bullish divergence on the MACD oscillator in the background. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1740.

Resistance levels: R1: 1.1697R2: 1.1740 R3: 1.1800 Support levels: S1: 1.1594S2: 1.1533 S3: 1.1490

Trading recommendations for today: watch for potential buying opportunities.

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