Intraday technical levels and trading recommendations for EUR/USD for September 5, 2018
The price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks.
The EUR/USD pair is currently trapped between the depicted technical levels (1.1750 – 1.1500). Breakout movement should be anticipated.
Bearish breakdown of 1.1520 will probably allow a further decline towards 1.1420. The 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.