10.07.201813:42 Forex Analysis & Reviews: Intraday technical levels and trading recommendations for EUR/USD for July 10, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Daily Outlook

In April 2018, the short-term outlook turned to become bearish when the EUR/USD pair maintained trading below the broken uptrend as well as the lower limit of the depicted consolidation range.

Shortly after, the price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990 where a descending high was established. However, the EUR/USD bulls failed to pursue towards higher bullish targets.

Instead, further bearish momentum below the price zone was expressed in the market.

In June 2018, the price zone (1.1850-1.1750) offered significant bearish rejection which led to bearish decline towards 1.1500.

The price zone of 1.1520-1.1420 was considered a prominent bullish demand where a valid bullish BUY entry was offered during previous weeks' consolidations.

Hence, the EUR/USD pair remains trapped inside a consolidation range between the depicted key-levels 1.1520 and 1.1800 until breakout occurs in either direction.

Please note that early signs of bearish rejection around 1.1800 are already manifested on the chart. That's why, further bearish movement towards should be expected towards 1.1670 initially.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.