Intraday technical levels and trading suggestions for EUR/USD for October 4, 2018 888011000 110888 On the weekly chart, the EUR/USD set is demonstrating a high-probability Head and Shoulders reversal pattern where the ideal shoulder is currently in progress( recent bearish engulfing weekly candlestick ). Just recently, the price level of 1.1500 offered momentary bullish healing . Another bullish movement was demonstrated towards the ceiling of the price variety( 1.1750). The EUR/USD bulls failed to pursue towards greater bullish targets. Rather, apparent bearish rejection is being shown on the day-to-day chart. Current bearish motion is currently occurring towards 1.1520 (the lower limit of the combination variety ). As forthe bearish side of the market to be dominant, the EUR/USD pair should be able to push below 1.1520. First bearish target would lie around 1.1420. Otherwise, the EUR/USD set stays trapped within the illustrated consolidation range(1.1520-1.1750)if no strong bearish pressure is applied against 1.1520. The material has been provided by InstaForex

By | October 4, 2018

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