Trading Plan for EUR/USD for June 25, 2018
June 26, 2018 12:41 amVideo
Latest News
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
- Hot forecast for EUR/USD on April 19, 2024 April 19, 2024
- We’ve Donated Books in Vietnam for Children’s Day April 19, 2024
- Week Ahead – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Technical Analysis – GBPJPY range trading continues April 19, 2024
- Overview of the GBP/USD pair on April 19th. The Bank of England may lower the rate in May April 19, 2024
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
Technical outlook:
The EUR/USD pair should be looking to carve a lower top around 1.1720/40 levels and for this to hold true, 1.1850 resistance should hold. According to the wave labels shown above, a higher degree wave (4) looks to have terminated at 1.1850 levels and if this holds well, we must see lower tops and lower bottoms going forward, as wave (5) progresses. On the other hand, if a more complex wave (4) is to form, prices may rise through 1.2000/50 levels before turning lower again. At this point in time, a high probability is to watch out for a bearish reversal around 1.1720/40 levels, shown by the Fibonacci ratios as well. Please note that until prices stay below 1.1850 levels, we assume that wave (5) should progress lower and wave 2 is being worked upon right now.
Trading plan:
Look to sell around 1.1720/40, stop at 1.1851, target 1.1300 and 1.1200
Fundamental outlook:
There are no major fundamental events lined up for the day.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: