empty
 
 
10.05.2019 07:56 AM
Trading plan for EUR/USD for May 10, 2019

This image is no longer relevant

Technical outlook:

The EUR/USD pair has rallied past recent lows and hit above 1.1250 yesterday before pulling back. We present at least two potential outcomes today which can help to implement a trading strategy in the coming days. Please note that the price action has been tamed in the range between 1.1140 and 1.1260 levels since last several trading sessions. Immediate support is seen around 1.1170 levels and this should hold if bulls are wanting to stay in control. On the flip side, if prices fail to break above 1.1260 levels soon, bears may come back into play since EUR/USD is testing the resistance trend line close to 1.1220/30 levels at present. A conservative trading strategy is to take profits on long trades and remain flat for now, looking for further confirmation of highly probable trade direction. We need to respect the overall trend direction which is bearish for now as long as the price and the trend line resistance remain intact.

Trading plan:

Conservative traders take profit on long positions and remain flat.

Aggressive short players take short positions now @ 1.1225, stop above 1.1260 and target open.

If you would continue holding longs, revise stop to the breakeven or 1.1270 levels at least.

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