empty
 
 
29.10.2019 08:41 AM
Trading plan for EURUSD for October 29, 2019

This image is no longer relevant

Technical outlook:

The EUR/USD pair is seen to be trading around 1.1090 levels after printing lows at 1.1075 yesterday. It is still testing the support trend line and could print yet another low around 1.1065 levels before turning bullish again. However, if prices manage to break past 1.1125 levels without breaking below 1.1075, it could be confirm that a meaningful higher low is in place. We are expecting a bullish bounce from either of the 2 levels discussed below: 1. From 1.1065 levels which is Fibonacci 0.618 support of the recent rally between 1.0994 and 1.1180 respectively. 2. From 1.0994 levels which is a convergence of Fibonacci 0.618 retracement of the entire rally between 1.0879 and 1.1180 levels respectively; along with the past resistance turned support zone. In either case, EURUSD bulls remain poised to take back control and push through 1.1250/60 levels in the immediate future. The above structure would hold bullish momentum until prices stay above 1.0879 levels.

Trading plan:

Remain long for now against 1.0879, targeting 1.1250. 1.1450 and higher.

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback