Fxwirepro: Eur/usd Key Resistance at 1.1178, Sell Deals are recommended Around 1.1175

• EUR /USD pair made some gains against US dollar in today’s in early US session, however, the gains were limited and the pair fell back towards 1.1150 levels after hitting 50% fib resistance at 1.1177, resistance level at 1.1177 is set to hold the bulls from advancing further, and bring a decline, therefore it’s good to go short in this pair at bounce.

• To the upside, the strong resistance can be seen at 1.1211, a break above this level would take the pair towards next resistance level at 1.1245 levels.

• To the downside immediate support can be seen at 1.1140, a break below this level will open the door towards next level at 1.1096 (23.6% Retracement level).

Recommendation: Go short below 1.1175, targets  1.1140,1.1100 SL 1.1320

Resistance Levels

R1: 1.1178 (50% Retracement level)

R2: 1.1211 (61.8% Retracement level)

R3: 1.1244 (Sep 3^st high)

Support Levels

S1: 1.1140 (38.2% Retracement level)

S2: 1.1096 (23.6% Retracement level)

S3: 1.1020 (Aug 19th)

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