03.09.201811:25 Forex Analysis & Reviews: EUR/USD analysis for September 03, 2018

Long-term review

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Recently, the EUR/USD pair has been trading sideways at the price of 1.1610. According to the M15 time – frame, I found that price rejected from the today's pivot level (1.1625), which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of 1.1585, 1.1560 and at the price of 1.1520.

Resistance levels:

R1: 1.1665

R2: 1.1730

R3: 1.1770

Support levels:

S1: 1.1560

S2: 1.1520

S3: 1.1455

Trading recommendations for today: watch for potential selling opportunities.

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