Intraday technical levels and trading recommendations for EUR/USD for June 15, 2017 888011000 110888 Daily Outlook In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was developed around 1.0500. Since then, apparent bullish momentum has actuallybeen revealed on the chart.The next everyday supply level for the EUR/USD set lies in between 1.1400-1.1520 where rate action should be expected possible bearish rejection.Recent Update: The cost levels around 1.1280-1.1295 constituted Intraday resistance where the current bearish motion was initiated.On the other hand, a bullish breakout above 1.1285 will be mandatory to permit more bullish advance towards 1.1400. Otherwise, the existing bearish pullback will probably extend to 1.1110 and 1.1000 as long as the EUR/USD set preserves trading listed below 1.1170. H4 Outlook By the end of recently, considerable bullish rejection was revealed around the rate level of 1.1170(Lower Limit of the wedge pattern in confluence with 61.8%Fibonacci Level). As expected, substantial bearish rejection was revealed around the illustrated supply level 1.1280-1.1295 (The upper limit of the wedge pattern)Today, Bearish fixation below 1.1170 (Lower limitation of the wedge pattern and 61.8% Fibonacci Level) will be needed to enhance further bearish decrease to 1.1110 and 1.1050.Trade suggestions:A legitimate SELL entry can be considered upon bearish closure listed below 1.1170 (61.8% Fibonacci Level). S/ L must be placed above 1.1230 while T/P levels ought to be positioned at 1.1100, 1.1020 and 1.0850.The material has been offered by InstaForex Business – www.instaforex.com

By | June 15, 2017

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