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07.07.202010:18 Forex Analysis & Reviews: Trading idea for EUR/USD

Exchange Rates 07.07.2020 analysis

Good afternoon traders! A trading idea for the EUR / USD pair.

As proposed in our recommendation yesterday , long positions were traded, which led to a pullback in the EUR / USD pair:

Exchange Rates 07.07.2020 analysis

The movement led to the formation of the classic ABC pattern, which has very attractive goals at the top.

Open more long positions from the pullback to update the weekly highs at the quote of 1.3500, after which, work on updating the monthly high 1.14200, which coincides with the 161 Fibo projection.

Cancel the long-term scenario if the quotes break out of yesterday's long-term initiative and go below the level of 1.12300.

Good luck and remember to control the risks!

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Andrey Shevchenko,
Analytical expert of InstaForex
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