10.11.201713:55 Forex Analysis & Reviews: Analysis of EUR/USD for November 10, 2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1662. According to the 15M timeframe, I found a fake breakout of yesterday's high at the price of 1.1655, which is a sign that buying looks risky today. I also found a confirmation of a fake breakout in the background, which is a sign that there is weakness. Watch for potential selling opportunities. Downward targets are set at the price of 1.1609 (FR 50%), 1.1596 (FR 61.8%) and 1.1578 (FR 78.6%).

Resistance levels:

R1: 1.1669

R2: 1.1697

R3: 1.1738

Support levels:

S1: 1.1600

S2: 1.1558

S3: 1.1530

Trading recommendations for today: watch for potential selling opportunities.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.