However, the EUR/USD pair is currently trapped between the depicted technical levels (1.1750 – 1.1500). Breakout movement should be anticipated.
The price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks.
Bearish breakdown of 1.1520 is needed to allow further bearish decline towards 1.1420. Next bearish target would be located around 1.1275.
For the major reversal pattern to be confirmed, a quick bearish breakdown below 1.1420 will be needed to gain enough bearish momentum.
The material has been provided by InstaForex Company – www.instaforex.com
However, the EUR/USD pair is currently trapped between the depicted technical levels (1.1750 – 1.1500). Breakout movement should be anticipated.
The price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks.
Bearish breakdown of 1.1520 is needed to allow further bearish decline towards 1.1420. Next bearish target would be located around 1.1275.
For the major reversal pattern to be confirmed, a quick bearish breakdown below 1.1420 will be needed to gain enough bearish momentum.
The material has been provided by InstaForex Company – www.instaforex.com
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