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 July 20, 2018

July 21, 2018 Analytics

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Recently, EUR/USD has been trading upwards. As I expected, the price tested the level of 1.1678. Acording to the H1 time – frame, I found rejection from the support trendline in the background, which is a sign that selling looks risky. I also found a potential end of the downward correction (abc flat) and hidden bullish divergence on the MACD oscillator in the background. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.1740.

Resistance levels: R1: 1.1697R2: 1.1740 R3: 1.1800 Support levels: S1: 1.1594S2: 1.1533 S3: 1.1490

Trading recommendations for today: watch for potential buying opportunities.

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

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