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Technical outlook:
The EURUSD is seen to be trading around 1.0930/35 levels at the moment. After printing intraday lows at 1.0900 levels last Friday, it might be setting up to push above 1.0967 levels which is initial price resistance. A break would be the first step to confirm that a meaningful bottom is in place at 1.0900 levels and that the pair is heading towards 1.1450. The ending diagonal structure described in the video is a terminating pattern and a swift reversal in trend is expected after that. It is to be seen how price action develops during the next foe hours or days to confirm a bullish reversal ahead.
Trading plan:
Aggressive long against 1.0850
Good luck!
We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.
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