Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

Exchange Rates 21.08.2019 analysis

Technical outlook:

The EUR/USD pair is consolidating between 1.1060 and 1.1120 as expected and discussed yesterday. The single currency may face resistance around 1.1120 zone and reverse lower towards 1.1020 soon. Only a push above 1.1170/80 from here would delay a downturn and indicate potential of another lower high around 1.1260. We have presented another possible wave count here that consists of an A-B-C drop between 1.1412 and 1.1020 levels as labelled here. This entire wave could be Wave 3 of a potential ending diagonal structure building since 1.1500 levels earlier. If the forecast holds, we should see yet another low below 1.1020, as Wave 5 of the proposed ending diagonal structure unfolds. Another possibility is that Wave 4 may terminate around 1.1260 and then prices turn lower again towards fresh lows. One can keep stops on the short positions taken earlier to 1.1080 levels and reduce risk. Immediate price resistance is seen at 1.1240 for now, while interim support is seen through 1.1020 levels respectively.

Trading plan:

Remain short as aggressive traders, move stop to 1.1180, and target towards 1.0900/50 levels respectively.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Oscar Ton,
Analytical expert
InstaForex Group © 2007-2020
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.