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27.09.201808:56 Forex Analysis & Reviews: Technical analysis of EUR/USD for September 27, 2018

Long-term review

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EUR/USD had a volatile night as expected after the FOMC. Prices tried to move back above 1.18 but got rejected. We warned that another rejection at 1.18 would be a bearish sign. EUR/USD is now nearly 100 pips lower.

Green line - important short-term support

Dark blue dots - maximum strength support

EUR/USD has touched the dark blue dots support area and the upward sloping trend line. Holding above these two support levels and not pushing below 1.17 is a sign that prices are supported and the bullish scenario for a move higher is still open. Risk reward favors the bullish side now at 1.17 with a tight stop at 1.1660. I'm bullish EUR/USD.

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