06.07.201811:44 Forex Analysis & Reviews: EUR/USD analysis for July 06, 2018

Long-term review

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Recently, EUR/USD has been trading upwards. The price tested the level of 1.1726. According to the H1 time - frame, I found a rising trendline, which is a sign that buyers are in control. I also found a potential end of the flat ABC downward correction in the background, which is another sign of weakness. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1835.

Resistance levels:

R1: 1.1725

R2: 1.1757

R3: 1.1795

Support levels:

S1: 1.1654

S2: 1.1617

S3: 1.1584

Trading recommendations for today: watch for potential buying opportunities.

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