Intraday technical levels and trading recommendations for EUR/USD for May 18, 2018 888011000 110888 Daily Outlook The EUR/USD set had actually been caught in between the cost levels of 1.2200 and 1.2500 until bearish breakout occurred recently.Significant indications of bearish turnaround appeared around the rate levels of 1.2400. This appeared in the bearish engulfing day-to-day candlestick of April 20. The short-term outlook relies on become bearishas long as the EUR/USD pair keeps trading below the broken uptrend as well as the lower limit of the illustrated combination variety remainsbroken.Bearish persistence below the cost level of 1.2200 enabled even more bearish decline towards the price levels of 1.1990 and 1.1880. As pointed out, the price zone(1.1850-1.1750)offered significant bullish rejection and a short-term bullish pullback for intraday traders.However, a recent descending high was developed around the price level of 1.1990 as the EUR/USD bulls failed to pursue to greater bullish targets. This applies significant bearish pressure over the pointed out demand zone(1.1700-1.1750). If bearish momentum dominates, bearish persistence below 1.1700-1.1750(zone of previous everyday lows)will be needed to boost further bearish decline to 1.1400(the previously mentioned regular monthly key-level). The material has been supplied by InstaForex

By | May 18, 2018

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