Trading plan for EURUSD for October 30, 2019

Technical outlook:

The EUR/USD pair inched up closer to the level of 1.1179 level but could not break it today. We are presenting al alternate scenario here. It is quite possible that EURUSD bulls will complete a major boundary on the higher side from 1.0879 through 1.1180 as seen here. With prices failing to break past 1.1180, it remains possible that a flat correction might be underway and drag prices lower towards 1.1000 levels before turning bullish again. Please note that price resistance is at the 1.1250 level while strong support is at the 1.0879 level respectively. A counter trend drop will enable the pair to resume rally much higher. Thus, please take short-term profits on long positions for now and remain flat.

Trading plan:

Take profit on long positions for now and remain flat. Aggressive traders might want to go short against 1.0879 with target at 1.1000. Then long again.

Good luck!

The material has been provided by InstaForex Company – www.instaforex.com

Rate this post
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.

Leave a Reply

Your email address will not be published. Required fields are marked *