empty
 
 
15.09.2021 12:17 PM
Trading plan for EURUSD for September 15, 2021

This image is no longer relevant

Technical outlook:

EURUSD found support at 1.1800 on Tuesday and pulled back to 1.1830 in the past hour. The currency pair is trading within a range between 1.1770 and 1.1850 since early this week and need to break on either side to confirm the next move. It is still possible for bears to drag through 1.1750-60 mark before resuming its rally.

Structurally, EURUSD is within a counter trend rally towards 1.2050 levels and it has carved its first wave between 1.1660 and 1.1900 in August. Since then it has been retracing as bears take control for a while. The retracement is either complete at 1.1770 or could terminate around 1.1750-60 zone. The pair is expected to push through 1.2050 mark thereafter.

EURUSD is facing immediate resistance at 1.1908, while support is seen around 1.1660 levels respectively. High probability remain for a rally to resume towards 1.2050 soon. Also note that 1.2050 is Fibonacci 0.618 retracement of earlier drop betwn 1.2266 and 1.1660 respectively. Bears are looking poised to be back in control thereafter.

Trading plan:

Potential rally towards 1.2050 against 1.1660.

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