empty
 
 
09.07.2020 03:07 AM
Trading plan for EURUSD for July 09, 2020

This image is no longer relevant

Technical outlook:

EURUSD hit swing highs around 1.1351 before pulling back overnight. The single currency pair is seen to be trading around 1.1334 at this point in writing and might reverse lower. Please note that EURO wave structure remains bearish until prices stay below the 1.1420 level. Immediate resistance is 1.1420, while support is around 1.1266 respectively. Also note that EURUSD is re-testing the Fibonacci 0.618 retracement of the drop between 1.1420 and 1.1167. A bearish bounce remains possible from current levels. The downside targets are 1.1068 and 1.1008 respectively. Trading point of view, traders may open short deals with risk above 1.1420.

Trading plan:

Remain short, stop @ 1.1420, target @ 1.1008

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $9000 more!
    In May we raffle $9000 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback