18.09.201810:21 Forex Analysis & Reviews: Intraday technical levels and trading recommendations for EUR/USD for September 18, 2018

Long-term review

Exchange Rates 18.09.2018 analysis

On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress.

Recently, the price level of 1.1500 offered temporary bullish recovery towards 1.1830. The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, a descending high was established around 1.1800.

On the daily chart, the EUR/USD pair is currently trapped between the depicted technical levels (1.1750 - 1.1500). As for the bearish side of the market to be dominant, the pair needs a quick bearish breakdown below 1.1500.

However, the price level of 1.1520 is still standing as a prominent demand level where the current bullish pullback was initiated.

As long as the price level of 1.1520 holds price above, another Bullish movement should expected towards the upper limit of the price range (1.1750) where bearish rejection should be anticipated.

On the other hand, any bullish breakout above 1.1750 will allow further bullish advance towards 1.1850.


Mohamed Samy,
Analytical expert of InstaForex
© 2007-2022

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。

提出您的问题,用 在线帮助.