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15.08.201811:33 Forex Analysis & Reviews: EUR/USD analysis for August 15, 2018

Long-term review

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Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of 1.1315. According to the M30 time – frame, I found that price is trading below the daily pivot (1.1366), which is a sign that sellers are in control. I also found that price is below macd predictor, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1269 and at the price of 1.1236.

Resistance levels:

R1: 1.1404

R2: 1.1465

R3: 1.1503

Support levels:

S1: 1.1305

S2: 1.1269

S3: 1.1206

Trading recommendations for today: watch for potential selling opportunities.

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