EUR/USD analysis of 28th September 2017




Recently, the EUR/USD pair has been trading to the upside. The price tested the level of 1.1784. According to the 15M time frame, I found a fracture of the rising wedge, which is a sign that buying EUR/USD at this stage looks risky. There is also a bearish divergence hidden, that is another sign of weakness. My tip is to watch for potential selling opportunities. The trend to the downside targets are set at a price of 1.1750 and 1.1723.

Resistance levels:

R1: 1.1790

R2: 1.1835

R3: 1.1870

Levels of support:

S1: 1.1710

S2: 1.1675

S3: 1.1630

Trading recommendations for today: watch for potential selling opportunities.



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