Yesterday, market participants broke out the Target Zone 1.0752 – 1.0733. The next buying target is the Gold Zone 1.0839 – 1.0829.
Today the pair has corrected and tested the Additional Zone 1.0738 – 1.0734 — a strong support level from which new longs can be opened with a target at yesterday’s high.
If the Additional Zone is broken to the downside, the correction might continue with a target at the trend boundary, 1.0697 – 1.0681. After the trend boundary is tested, we will consider new longs with the same targets, in the first place.
To sell the euro, market participants need to break out the trend boundary and consolidate below during the US session. In that case, the selling target will be the lower Target Zone 1.0594 – 1.0575.
Trading plan for EURUSD for today:
- Buy according to the pattern from Additional Zone 1.0738 – 1.0734.
TakeProfit: 1.0785.
StopLoss: according to pattern rules. - Buy according to the pattern from Intermediary Zone 1.0697 – 1.0681.
TakeProfit: 1.0785.
StopLoss: according to pattern rules.
Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Go to Register with LiteForex Platform
Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.
