empty
 
 
04.04.2019 06:25 AM
Trading plan for EUR/USD for April 04, 2019

This image is no longer relevant

Technical outlook:

An hourly chart has been presented here for EUR/USD to have a closer look at the wave structure. The overall drop from 1.1448 levels can be sub-divided into 5 waves, which have been labelled as Wave (1) of a higher degree here, at 1.1181 lows formed on April 02, 2019. We have been calling for an aggressive long position for the recent 2 days and the wave structure until now looks to be constructive for bulls. The rally from 1.1181 has unfolded into 4 waves until now and most probably the 5th wave seems to be in progress. Please note that the 4th wave went sideways as a contracting triangle, which is a normal guideline for Wave 4. Besides, prices have managed to take out initial resistance at 1.1250 levels, which is an encouraging sign for bulls. According to the above described potential wave structure, a 5th wave should push higher towards 1.1260 to complete Wave (A) within the 4-wave corrective rally proposed on the chart view here. In a nutshell, EUR/USD is set to push towards 1.1340/50 levels into a 3-wave corrective structure.

Trading plan:

Remain long, stop below 1.1175, target is 1.1340/50

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 $5000 more!
    In November we raffle $5000 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

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback