Intraday technical levels and trading recommendations for EUR/USD for January 11, 2018 888011000 110888 Daily Outlook As expected, the continuous bullish momentum allowed the EUR/USD set to pursue further bullish advance to 1.1415-1.1520( Previous Daily Supply-Zone). The day-to-day supply zone failed to pause the ongoing bullishmomentum. Instead, apparent bullish breakout was revealed towards the rate level of 1.2100 where the illustrated Head and Shoulders reversal pattern was expressed.If the current bearish breakout persists listed below 1.1700( Neck line of the reversal pattern),a quick bearish decline needs to be expected to the price zone of 1.1415-1.1520 (Initial targets for the portrayed H&S pattern). Bearish target for the depicted Head and Shoulders pattern extends to 1.1350. However, to pursue towards the discussed targetlevel, significant bearish pressure is needed to be applied versus the discussed zone(1.1415-1.1520 ). Nevertheless, In November, current price action around the rate zone of 1.1520-1.1415 suggested apparent bullish recovery.This hindered further bearish decrease which permitted the present bullish pullback to occur towards the rate level of 1.2000-1.2100 where price action must be watched for a legitimate OFFER entry(Note the bearish engulfing day-to-day candlesticks of the previous few days). On the other hand, daily perseverance above 1.2100 validates the depicted bullish continuationpattern with predicted targets to 1.2500. H4 Outlook On November 7, a short-term uptrend was initiated around 1.1570 Since then, the EUR/USD set has beenmoving higher as illustrated on the chart.Recently, a double-top turnaround pattern was established around the price levels of 1.2080. This was followed by bearish breakdown listed below 23.6%Fibonacci level(1.1990 ). As long as the EUR/USD set is trading below 1.1990-1.2020, More bearish decline should be expected to the price zone of 1.1890-1.1850( Demand-Zone )where the uptrend line concernsmeet the illustrated Fibonacci levels.The cost zone (1.1990-1.2020)stays an intraday supply zone to be looked for short-term OFFER entries.On the other hand, p rice action must beviewed around the illustrated need zone( 1.1890-1.1850)for substantial bullish rejection and a possible BUY entry.Bearish breakdown listed below 1.1850( 61.8 %Fibonacci )willbe a valid OFFER signal if enough bearish pressure is applied against the discussed zone.The product has been suppliedby InstaForex Company-www.instaforex.com

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