Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

EUR/USD analysis for August 31, 2018

August 31, 2018 Analytics

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Recently, the EUR/USD pair has been trading sideways at the price of 1.1660. According to the M15 time – frame, I found the breakout of the bearish flag pattern (bearish pattern), which is a sign that sellers are in control and that buying looks risky. I also found a hidden bearish divergence on the stochastic 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 1.1642 and at the price of 1.1600.

Resistance levels:

R1: 1.1710

R2: 1.1752

R3: 1.1786

Support levels:

S1: 1.1634

S2: 1.1600

S3: 1.1558

Trading recommendations for today: watch for potential selling opportunities.

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

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