Intraday technical levels and trading suggestions for EUR/USD for August 9, 2018 888011000 110888 Daily Outlook In April 2018, the EUR/USD pair outlook relied on end up being bearish when the pair pursued trading listed below the broken uptrend in addition to the lower limitation of the depicted combination range.Shortly after, the cost zone (1.1850-1.1750)provided short-lived bullish rejection to 1.1990. The EUR/USD bulls failed to pursue towards greater bullish targets. Instead, a coming down high was developed around 1.1990. This was followed by a bearish breakdown listed below the cost zone of 1.1850-1.1750. This cost zone has been standing as a considerable Supply zone given that June 2018. On the other hand, the price zone of 1.1520-1.1420 was thought about a prominent need zone where a legitimate bullish BUY entry was provided during previous weeks’consolidations.On July 10, signs of bearish rejection were manifested around 1.1750. That’s why a bearish motion was anticipated to happen to 1.1650. Absence of adequate bearish momentum enabled another bullish pullback to happen once again towards 1.1750(the illustrated supply zone )where another episode of bearish movement was started towards 1.1520. On the other hand, current signs of bullish rejection were revealed around the lower limit of the pointed out consolidation range(1.1520). Another bullish movement to 1.1750 must be expected.The EUR/USD pair stays trapped within the combination range of 1.1750-1.1520 up until breakout happens in either direction.The product has been supplied by InstaForex

By | August 9, 2018

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