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EUR/USD analysis for July 19, 2017

Posted On 19 Jul 2017
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Recently, the EUR/USD has been trading sideways at the price of 1.1525. According to the 30M time frame, I found that price has broken supply trendline, which is a sign that selling looks risky. The RSI indicator is looking oversold near the 30 level, which is another sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1600.

Resistance levels:

R1: 1.1545

R2: 1.1565

R3: 1.1575

Support levels:

S1: 1.1512

S2: 1.1498

S3: 1.1480

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 19, 2017

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