Intraday technical levels and trading recommendations for EUR/USD for September 21, 2017 888011000 110888 Month-to-month Outlook In January 2015, the EUR/USD pair moved below the significant demand levels near 1.2050-1.2100(multiple previous bottoms set in July 2012 and June 2010). A long-lasting bearish target was predicted towards 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997. In thelonger term, the level of 0.9450 remains a forecasted target if any regular monthly candlestick accomplishes bearish closure below the portrayed month-to-month need level of 1.0500. The EUR/USD pair has been trapped within the illustrated debt consolidation range(1.0500-1.1450)till the existing bullish breakout was carried out above 1.1450. The existing bullish breakout above 1.1450 permits a fast bullish advance towards 1.2100 where cost action must be expected obvious bearish rejection and a legitimate OFFER Entry. Daily Outlook In January 2017, the previous drop reversed when the Head and Shoulders pattern was developed around 1.0500. Ever since, evident bullish momentum has actually been expressed on the chart.As prepared for, the ongoing bullish momentum allowed the EUR/USD set to pursue more bullish advancetowards 1.1415-1.1520( Previous Daily Supply-Zone). The daily supply zone failed to pause the ongoing bullish momentum. Rather, evident bullish breakout is being experienced on the chart. The next Supply level to satisfy the pair lies around 1.2100(Level of previous several bottoms )where bearish rejection and a valid OFFER entry can be anticipated.On the other hand, If bearish pullback continues listed below 1.1800 (the illustrated uptrend line) and 1.1700, a fast bearish decrease ought to be expected towards the price zone of 1.1415-1.1520 where BUY entries can be offered.The materialhas been offered by InstaForex Company – www.instaforex.com

By | September 21, 2017

Share This:

Leave a Reply

Your email address will not be published. Required fields are marked *