Trading plan for EUR/USD for September 11, 2019

Technical outlook:

The EUR/USD pair is seen to be trading around 1.1044/50 at this point in writing. It is possibly carving out a flat corrective drop towards 1.0980 or potentially to 1.0960, before rallying further. At this juncture, we would assume the structure to be that of an A-B-C correction but a clear break above 1.1165 and subsequently above 1.1250 would confirm otherwise. Immediate price resistance is seen at 1.1165, while interim support is at 1.0925 levels respectively. If prices do not break below 1.1020, the proposed Wave C can unfold as an ending diagonal as well. It would be interesting to see how price action unfolds towards this corrective mode. Trading point of view, it would be good to remain flat for now and allow a drop towards 1.0980 at least before initiating longs for a Wave C higher. Please note that EUR might still not be out of woods and yet another low could be in the making, going forward.

Trading plan:

Remain flat for now, look to buy lower around 1.0980 levels.

Good luck!

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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