empty
 
 
04.06.2019 08:12 AM
Trading plan for EUR/USD for June 04, 2019

This image is no longer relevant

Technical outlook:

The EUR/USD pair has managed to reach its resistance zone as defined between 1.1250/60 levels here. A high probable trade setup from here should be lower. Those who initiated short positions yesterday, keeping stops above 1.1220 levels could prepare to re-enter short positions today and the risk remains above next in line resistance at 1.1320 levels respectively. If bulls manage to break above 1.1260 levels consistently, we might re-consider our trading direction of selling on rallies. On the other side, if consolidation continues further, we could see a bearish reversal around these levels, dragging prices lower below 1.1100 levels going further. In the latter case, the overall wave structure remains bearish, and we can expect a break below 1.1100 levels soon. Even if this is not a consolidation, prices are expected to drop at least to 1.1180 levels, which is backside of the resistance trend line and which is support now.

Trading plan:

Remain short with a stop above 1.1324, target below 1.1100

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Oscar Ton
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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
  • 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