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EUR/USD analysis for July 06, 2017

Posted On 06 Jul 2017
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Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1370. The downward channel is broken and that is a good sign of strength. My advice is to watch for potential buying opportunities. The price also re-tested previous day’s high, which is another sign of strength. The upward target is set at the price of 1.1425.

Resistance levels:

R1: 1.1375

R2: 1.1400

R3: 1.1435

Support levels :

S1: 1.1320

S2: 1.1290

S3: 1.1260

Trading recommendations for today: watch for potential buying opportunities.

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

Source:: EUR/USD analysis for July 06, 2017

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