EUR/USD analysis for June 16, 2017

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Recently, the EUR/USD pair has been trading sideways at the price of 1.1174. According to the 5M time frame, I found a broken upward trendline and broken H3 (Camarilla resistance), which is a sign that buying looks risky. My advice is to watch for selling opporutntiies. The downward target is set at the price of 1.1120.

Resistance levels:

R1: 1.1175

R2: 1.1185

R3: 1.1200

Support levels:

S1: 1.1145

S2: 1.1130

S3: 1.1115

Trading recommendations for today: watch for potential selling opportunities.

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

Source:: EUR/USD analysis for June 16, 2017

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