Trading plan for EUR/USD for July 10, 2019


Technical outlook:

The EUR/USD pair has almost achieved the downside objectives around 1.1190/1.1200 levels as we have been discussing the same since last several trading sessions. The single currency pair is seen to be trading around 1.1210 levels at the moment of writing, having print lows at 1.1193 yesterday. It can still push lower towards yet another low before pulling back higher again. We maintain our stand for a bullish potential from current levels or a bit lower. Immediate support is seen at 1.1280 levels followed by 1.1107 levels respectively. Prices are close to fibonacci convergence around 1.1200/20 levels as seen here. Furthermore, the past resistance can also provide enough support around the 1.1200 zone. At least a pullback towards 1.1340/50 levels or even a new high above 1.1412 levels can be expected. It is still safe trading strategy to remain long against 1.1107 levels.

Trading plan:

Remain long, stop below 1.1107, target is open (1.1340 at least)

Good luck!

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