EUR/USD analysis for December 05, 2017

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Recently, the EUR/USD pair has been trading sideways at the price of 1.1845. According to the 1H time – frame, I found testing of support cluster at the price of 1.1840, wich is sign that selling at this stage looks risky. I also found a larger support cluster at the price of 1.1815 in the background, which is another sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.1876 and at the price of 1.1930.

Resistance levels:

R1: 1.1887

R2: 1.1907

R3: 1.1936

Support levels:

S1: 1.1837

S2: 1.1808

S3: 1.1788

Trading recommendations for today: watch for potential buying opportunities.

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

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