Intraday technical levels and trading suggestions for EUR/USD for July 24, 2018 888011000 110888 Daily Outlook In April 2018, the EUR/USD set outlook relied on end up being bearish when the set pursued trading below the damaged uptrend in addition to the lower limit of the depicted consolidation range.Shortly after, the rate zone (1.1850-1.1750)used momentary bullish rejection to 1.1990. The EUR/USD bulls cannot pursue towards greater bullish targets. Instead, a coming down high was developed around 1.1990. This was followed by bearishbreakdown below the cost zone of 1.1850-1.1750. This cost zone has been standing as a substantial Supply zone since June 2018. On the other hand, the price zone of 1.1520-1.1420 was considered a prominent demand zone where a valid bullish BUY entry was offered throughout previous weeks’consolidations.On July 10, signs of bearish rejection appeared around 1.1750. That’s why, a bearish motion was anticipated to happen towards 1.1650. Absence of sufficient bearish momentum allowed another bullish pullback to take place towards 1.1750(the lower limitation of the portrayed supply zone)where bearish pressure was expressed on July 17. That’s why, the EUR/USD set remains trapped inside the consolidation range in between the portrayed key-levels 1.1520 and 1.1750 until breakout takes place in either direction.Please note that any bullish breakout above 1.1750 will probably free a fast bullish motion to 1.1850(the ceiling of the illustrated supply zone). The product has actually been supplied by InstaForex Business-www.instaforex.com

By | July 24, 2018

Leave a Reply

Your email address will not be published.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