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13.06.201814:47 Forex Analysis & Reviews: Intraday technical levels and trading recommendations for EUR/USD for June 13, 2018

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.

Exchange Rates 13.06.2018 analysis

Daily Outlook

In April 2018, the short-term outlook turned to become bearish when the EUR/USD pair maintained trading below the broken uptrend as well as the lower limit of the depicted consolidation range.

Bearish persistence below the price level of 1.2200 allowed further bearish decline towards the price levels of 1.1990 and 1.1880.

As mentioned, the price zone (1.1850-1.1750) offered temporary bullish rejection towards 1.1990 where a descending high was established.

The EUR/USD bulls failed to pursue towards higher bullish targets. Instead, further bearish momentum was expressed in the market.

Currently, the price zone (1.1850-1.1750) is now considered a prominent Supply zone to be watched for bearish rejection and possible SELL entries. S/L should be placed above 1.1900.

That's why the bearish persistence below 1.1700-1.1750 (zone of previous daily lows) is currently needed to enhance further bearish decline towards 1.1400 (the previously mentioned monthly key-level).

Mohamed Samy
Analytical expert of InstaForex
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