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11.07.201814:27 Forex Analysis & Reviews: Banking areas of EUR/USD pair

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Today, there have been regular operations on the open market, which allows us to determine the compilation zone of the bank. The significant area for today is located near the level of 1.1720, which indicates the consolidation above the previous zone.

After a month's flat, the couple was able to go beyond its upper limit. To continue the growth, it will be necessary to keep the price above the level of 1.1722. This will keep open purchases and consider new long-term transactions in the medium term. Confirmation above the zone of bank compilation will be the closure of today's US session. The next goal of the ascending model will be the June high.

Exchange Rates 11.07.2018 analysis

It is important to understand that the achievement of the June maximum can cause the appearance of a major proposal. This indicates the need to fix most of the purchases that are open at the current and past weeks.

Closing purchases will also be required if the price fixes below the zone of bank compilation today, as this will mean the formation of an accumulation zone or a reversal pattern. retention of purchases, in this case, will cease to be profitable. Closure of today's American session below the zone of bank compilation will allow consideration of the local sales. The purpose of which will be to return to the zone of last week, where a large number of open positions of major players are concentrated. This may allow you to get better prices for the purchase in the near future.

Exchange Rates 11.07.2018 analysis

Samanta Kruder
Analytical expert of InstaForex
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