17.09.201814:17 Forex Analysis & Reviews: Intraday technical levels and trading recommendations for EUR/USD for September 17, 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.

On the weekly chart, the EUR/USD pair is demonstrating a Head and Shoulders pattern where the right shoulder is currently in progress.

Recently, the price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800.

On the daily chart, for the bearish side of the market to be dominant, the pair needs quick bearish decline below 1.1500.

However, the price level of 1.1520 stood as a prominent demand level where another bullish pullback was initiated recently.

The EUR/USD pair is currently trapped between the depicted technical levels (1.1750 - 1.1500).

Another Bullish movement is expected towards the upper limit of the price range (1.1750) where bearish rejection should be anticipated.

On the other hand, any bullish breakout above 1.1750 will allow further bullish advance towards 1.1850.

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.