Intraday technical levels and trading recommendations for EUR/USD for June 16, 2017 888011000 110888 Daily Outlook In January 2017, the previous sag reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum hasbeen expressed on the chart.The next daily supply level for the EUR/USD set lies in between 1.1400-1.1520 where rate action ought to be expected possible bearish rejection.Recent Update: The rate levels around 1.1280-1.1295 constituted Intraday resistance where the present bearish movement was initiated.The current bearish pullback will probably extend to 1.1110 and 1.1000 as long as the EUR/USD pair keeps trading below 1.1170. On the other hand, a bullish breakout above 1.1285will be mandatoryto pursue further bullish advance towards 1.1400. H4 Outlook By the end of recently, substantial bullish rejection was revealed around the cost level of 1.1170(Lower Limit of the wedge pattern in confluence with 61.8 %Fibonacci Level).As expected, substantial bearish rejection was expressed around the portrayed supply level 1.1280-1.1295(The ceiling of the wedge pattern). This was followed by bearish breakdown of the lower limitation ofthe wedge-pattern as well.Today, bearish perseverance listed below 1.1170(lower limit of the wedge pattern and 61.8% Fibonacci level)willbe had to improve more bearish decline towards 1.1110 and 1.1050. Trade recommendations: A legitimate OFFER entry can be considered around the rate levels of 1.1170(61.8 %Fibonacci Level). S / L must be placed above 1.1230 while T/P levels must be positioned at 1.1100, 1.1050, and 1.0850. The material has actually been provided by InstaForex

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