empty
 
 
09.06.2021 01:16 PM
Trading plan for EURUSD for June 09, 2021

This image is no longer relevant

Technical outlook:

EURUSD has been drifting in a corrective range 1.2165 and 1.2195 respectively. It might attempt to re-test 1.2200 handle before finding resistance again. The currency is showing quite resilience and is not giving in to bears without testing around 1.2200 levels. If bulls are successful in pushing above 1.2254 levels going forward,

EURUSD is seen to be trading around 1.2191 levels at this point in writing and is expected to turn lower soon. Immediate resistance is seen at 1.2254, followed by 1.2266; while support comes in around 1.2050, followed by 1.1986 levels respectively. A drop below 1.2100 will accelerate towards 1.1986 levels.

EURUSD potential remains to drop through 1.1300 levels before finding some support again. Also note that 1.1300 is the fibonacci 0.618 retracement of the entire rally between 1.0636 and 1.2350 levels. A bullish bounce remains high probability if prices manage to drop until 1.1300 levels. Looking lower for now.

Trading plan:

Remain short for now, stop @ 1.2350, target is @ 1.1300

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback