Intraday technical levels and trading recommendations for EUR/USD for May 17, 2018 888011000 110888 Daily Outlook The EUR/USD pair had been caught between the rate levels of 1.2200 and 1.2500 till bearish breakout took place recently.Significant signs of bearish reversal appeared around the cost levels of 1.2400. This was manifested in the bearish engulfing day-to-day candlestick of April 20. The short-term outlook relies on end up being bearishas long as the EUR/USD pair keeps trading below the broken uptrend along with the lower limit of the portrayed combination variety remainsbroken.Bearish determination below the cost level of 1.2200 enabled even more bearish decrease to the rate levels of 1.1990 and 1.1880. As mentioned, the price zone(1.1850-1.1750)offered substantial bullish rejection and a short-term bullish pullback for intraday traders.However, a recent coming down high was established around the price level of 1.1990 as the EUR/USD bulls cannot pursue to higher bullish targets.This improves the bearish situation of the market.If bearish momentum dominates, bearish determination listed below 1.1700-1.1750(zone of previous everyday lows)will be needed to enhance further bearish decrease to 1.1400(the previously mentioned monthly key-level). The product has actually been provided by InstaForex Company-www.instaforex.com

By | May 17, 2018

Leave a Reply

Your email address will not be published.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