EUR/USD for July 31,2019 – Support on the test

EUR has been trading exactly how I planned. The price tested my upward target at the price of 1.1150. Anyway, EUR did trade lower in past 10 hours but the key support is on the test 1.1135. The short-term trend is bullish due to higher highs and higher lowers in the background. Watch for potential buying opportunities.

Technical picture:

Blur rectangle – Support 1 (1.1135)

Orange horizontal line – Resistance (1.1187)

Blue horizontal line – Resistance 2 (1.1205)

Red rectangle – Key support (1.1100-1.1114)

On the 4H time-frame I found that Stochastic oscillator got a flip up and that slow line is going higher, which is good sign for the further upside continuation. Additionally, there is the potential overbought condition on the Stochastic, which is another sign for the potential upside, Today is FOMC day and you should be more careful with your risk.The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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