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FX.co ★ EUR/USD analysis for March 20, 2017

EUR/USD analysis for March 20, 2017

EUR/USD analysis for March 20, 2017

Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.0776. According to the 15M time frame, I found rejection from cluster resistance at the price of 1.0775, which is a sign that buying looks risky. There is also a hidden bearish divergence on the moving average oscilator, which is another sign of weakness. My advice is to watch for potential selling opportunities. Downward targets are set at the prie of 1.0730 and at the price of 1.0710.

Resistance levels:

R1: 1.0745

R2: 1.0747

R3: 1.0755

Support levels:

S1: 1.0736

S2: 1.0733

S3: 1.0729

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
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