04.10.201907:36 Forex Analysis & Reviews: Trading plan for EUR/USD for October 04, 2019

Long-term review

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Technical outlook:

EUR/USD is ready to push through 1.1025 resistance as an immediate wave structure reveals. After printing lows at 1.0879 on October 01, 2019, the price has been making higher highs and higher lows as seen here, with strong support at 1.0904. The correction from 1.1000 levels also seems to have found support at fibonacci 0.382 of the recent boundary between 1.0904 through 1.1000 respectively. If prices could manage to stay above 1.0950/60 going forward, then the next immediate upside target seems to be at 1.1035 levels as seen here. That should be taking out the next line in resistance seen at 1.1025 levels. Please note that the euro bulls might be targeting 1.1110 resistance, before producing any meaningful correction lower. Alternately, if recent correction digs in deeper, support comes in ahead of 1.0910/20 levels.

Trading plan:

Remain long against 1.0879 levels, target is 1.1110

Good luck!

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