EUR/USD short-term technical levels and trading recommendations for for September 10, 2018

analytics5b965b331f014.png

The recent bullish movement of the EUR/USD ceased to be dominant since August 28.

Lack of enough bullish momentum is demonstrated on the chart so that recent movement has turned into sideways consolidations.

Earlier Today, obvious bullish rejection was demonstrated around 1.1530. This was manifested in the bullish engulfing H1 candlestick as depicted on the chart.

This would enhance the short-term bullish scenario for the EUR/USD pair. Intraday bullish target levels would be located around 1.1610.

However, conservative traders should wait for a bearish pullback towards the backside of the broken intraday-channel around 1.1550 for a valid BUY entry.

S/L should be placed below 1.1500 while t/p levels should be located around 1.1570 and 1.1600.

The material has been provided by InstaForex Company - www.instaforex.com