Intraday technical levels and trading suggestions for EUR/USD for February 12, 2018 888011000 110888 Regular monthly Outlook In January 2015, the EUR/USD set moved listed below the significant demand levels near 1.2050-1.2100(several previous bottoms set in July 2012 and June 2010). Thus, a long-term bearish target was forecasted towards 0.9450. In March 2015, EUR/USD bears challenged the regular monthly demand level around 1.0500, which had actually been previously reached in August 1997. In thelonger term, the level of 0.9450 stays a forecasted target if any month-to-month candlestick attains bearish closure listed below the illustrated monthly need level of 1.0500. Nevertheless, the EUR/USD pair has beentrapped within the depicted consolidation range(1.0500-1.1450 )till the present bullish breakout was carried out above 1.1450 and recently above 1.2075. Another bullish breakout above 1.2250 is being expressed on the chart. This prevents the bearish momentum permitting bullish advancement to happen to 1.2750. Daily Outlook As prepared for, the continuous bullish momentum allowed the EUR/USD set to pursue further bullish advance towards 1.1415-1.1520(Previous Daily Supply-Zone). The day-to-day supply zone failed to stop briefly the ongoing bullish momentum. Instead, evident bullish breakout was revealed towards the rate level of 1.2100 where the illustrated Head and Shoulders reversal pattern was expressed.The bearish target for the portrayed Head and Shoulders pattern extends towards 1.1350. The market stopped working to apply significant bearish pressure against the pointed out zone(1.1415-1.1520). Instead, in November, evident bullish healing was manifested around the cost zone of 1.1520-1.1415. This impeded even more bearish decline which enabled the existing bullish pullback to happen towards the cost level of 1.2100 which failed to stop briefly the continuous bullish momentum as well.Daily perseverance above 1.2470-1.2500 is needed to confirm a recent bullish flag extension pattern with forecasted targets towards 1.2750. A current bearish pullback is being revealed below the rate level of 1.2350. This might extend towards 1.2070 if a bearish breakdown of the level of 1.2200 is accomplished on an everyday basis.The product has actually been supplied by InstaForex Business-www.instaforex.com

By | February 12, 2018

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