31.10.201913:02 Forex Analysis & Reviews: Trading plan for EURUSD for October 30, 2019

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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!

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