You are here: Home > articles > Forex > Intraday technical levels and trading recommendations for EUR/USD for June 15, 2017
Intraday technical levels and trading recommendations for EUR/USD for June 15, 2017
June 15, 2017 12:01 pmVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Daily Outlook
In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.
The next daily supply level for the EUR/USD pair is located between 1.1400-1.1520 where price action should be watched for possible bearish rejection.
Recent Update: The price levels around 1.1280-1.1295 constituted Intraday resistance where the current bearish movement was initiated.
On the other hand, a bullish breakout above 1.1285 will be mandatory to allow further bullish advance towards 1.1400.
Otherwise, the current bearish pullback will probably extend towards 1.1110 and 1.1000 as long as the EUR/USD pair maintains trading below 1.1170.
H4 Outlook
By the end of last week, significant bullish rejection was expressed around the price level of 1.1170 (Lower Limit of the wedge pattern in confluence with 61.8% Fibonacci Level ).
As anticipated, significant bearish rejection was expressed around the depicted supply level 1.1280-1.1295 (The upper limit of the wedge pattern)
Today, Bearish fixation below 1.1170 (Lower limit of the wedge pattern and 61.8% Fibonacci Level) will be needed to enhance further bearish decline towards 1.1110 and 1.1050.
Trade recommendations:
A valid SELL entry can be considered upon bearish closure below 1.1170 (61.8% Fibonacci Level).
S/L should be placed above 1.1230 while T/P levels should be placed at 1.1100, 1.1020 and 1.0850.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: