25.03.201906:45 Forex Analysis & Reviews: Trading plan for EUR/USD for March 25, 2019

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical outlook:

The H4 chart for EUR/USD has been presented here with potential wave counts which could reflect the medium-term outlook. Please note that the EURUSD pair has reached the support range between the 1.1280 and 1.1340 levels, respectively. On Friday, an intraday low was made at the 1.1273 levels before pulling back towards 1.1300. The potential wave structure could be defined as an impulse wave between 1.1175 and 1.1443, labelled as Wave 1 on the chart here. The drop can be seen as corrective (a-b-c), but we have kept the alternate count open which could produce a 5 wave drop from the 1.1443 levels. If the prices manage to hold above the 1.1273 levels, the next move should be bullish towards the 1.1700/1.1800 levels. As an alternative, if the prices drop below the 1.1273 levels producing an impulse, we would look out for a potential short opportunity on a pullback rally. For now, we remain on the higher side.

Trading plan:

Remain long, stop below the 1.1273 levels, the target is open.

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.