EUR/USD analysis for December 20, 2017 20.12.2017

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Exchange Rates 20.12.2017 analysis

Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1858. According to the 15M time – frrame, I found a fake breakout of yesterday’s high at the price of 1.1848, which is sign that buying looks risky. I also found a hidden bearish divergence on the moving average oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1825, 1.1817 and at the price of 1.1809.

Resistance levels:

R1: 1.1867

R2: 1.1895

R3: 1.1940

Support levels:

S1: 1.1795

S2: 1.1750

S3: 1.1723

Trading recommendations for today: watch for potential selling opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2017

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