Trading Plan for EUR/USD and GBP/USD for September 18, 2017 888011000 110888 Technical outlook: EUR/USD bulls still stay in control however think it or not, the advantage is incredibly restricted. At this moment in time, the pair is consolidating into a possible flat or a triangle prior to pressing higher one last time. We have to remain a bit client here as the combination structure is unfolding and moreover a meaningful top is being formed. Let us not speculate on a possible leading development and allow prices to dictate the very same. It is good to prepare for short positions but dedicating then today would be too risky. A significant resistance should be seen around 1.2200/ 50 levels moving forward, so please be prepared to sell around those levels. At this point, immediate assistance is seen around 1.1830 levels, while resistance is just below 1.2092 levels respectively. A break listed below 1.1800 and subsequently 1.1650 levels would validate a significant topis in place.Trading strategy:Please remain flat for nowand look to offer on a brand-new high above 1.2100 levels.GBP/ USD chart setups: Technical outlook: GBP/USD has rallied above expectations and a strong bull trend continues with no signs of a reversal. Think it or not the pair is firmly within strong resistance zone around 1.3600/ 1.3700 levels, however a bearish turnaround is still not confirmed. Instead of speculating on a top, we shall stay flat for now and wait on the very first 5 waves (impulse)at a lower degree. A day-to-day chart has been presented here to have the larger image in mind once again, and that is suggesting a 50 %retracement of the drop between 1.5000 through 1.2000 levels respectively. A major bearish turnaround shall be confirmed on a break listed below 1.2800 levels goingforward. At this point it readies to stay flat, waiting for yet another prospective top and a bearish drop in 5 waves.We will validate the exact same here, watch out for resistance around 1.3650/ 1.3700 levels.Trading plan: Please stay flat for now and planning to go brief again around 1.3650/ 1.3700 levels.Fundamental outlook: Watch out for Bank of England Guv Mr Carney ‘s speech today at IMF, at 11:00 AM EST.Good luck!The material has actually been supplied by InstaForex

By | September 18, 2017

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