empty
 
 
01.05.2019 07:31 AM
Trading plan for EUR/USD for May 01, 2019

This image is no longer relevant

Technical outlook:

The EURUSD pair has managed to push through fibonacci 50% retracement/resistance of the recent drop between 1.1324 and 1.1111 levels respectively as presented on the chart here. Also note that the 61.8% extension of recent counter trend rally has also been hit. The likelihood remains for a bearish reversal from current levels or from 1.1240 levels which is fibonacci 0.618 resistance of the former drop. We shall continue to maintain our bearish bias for now, and until prices remain below 1.1324 levels going forward. Immediate support remains at 1.1111 levels while resistance is intact at 1.1324 levels respectively. We believe that in the next 1-2 days, the direction and trend for May 2019 could be decided with more bias towards lower levels. Please also note that the next resistance in line is the 1.1250 zone and if bulls manage to push higher, it might be a threat to 1.1324 levels ahead. At least for now, it could be considered to be a safe trading strategy to remain short and look to further sell higher.

Trading plan:

Short from 1.1175 and 1.1190 levels, stop at 1.1324 and target 1.1020.

Good luck!

Summary
Urgency
Analytic
Oscar Ton
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback