16.09.201916:39 Forex Analysis & Reviews: EUR/USD for September 16,2019 - Potential buy zone around 1.1000

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.

EUR/USD has been trading downwards in past 24hours. The price tested the level of 1.1000 (round number). It is very risky to watch for selling opportunities now due to potential buy pullback type of feeling. Fibo 50% is set at 1.1020 and Fibo 61.8% at the price of 1.0997.

Purple lines – Fibo support levels

Yellow rectangle – Previous swing low like resistance

Rising purple line – Expected path

My advice is to watch potential buying opportunities on the EUR/USD due to potential buying on the dips. EUR/USD is trading inside of the news candles range, which might be tricky for potential next direction. If the level of 1.1000 can hold, there is chance for more upside in my opinion and potential test of 1.1055.

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.