MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Trading plan for EUR/USD for September 06, 2019

analytics5d71e4d7e05ac.jpg

Technical outlook:

EUR managed to bounce off 1.0925 levels discussed earlier. The single currency has rallied straight to the fibonacci 0.618 resistance as presented here. It still remains into the sell zone of the resent trend line resistance, hence we would respect the overall view. Until prices remain below 1.1250, it would be too early to confirm that a meaningful bottom is in place. Looking at the wave structure, if 1.0925 was the termination of Wave v of C, we should see the rally continue further and break above 1.1250 going forward. From the trading stand point, it is suggested to take profits on the longs initiated earlier and remain flat waiting for a corrective drop. Aggressive traders might want to go short against 1.1165 in anticipation of the bearish continuation. Please note if prices bounce back around the 1.0980 levels, we would review again for a potential bullish reversal. Immediate price resistance is seen at 1.1165 levels while interim support is defined at 1.0925 respectively.

Trading plan:

Please book profits on long positions taken earlier. Aggressive traders go short with stop at 1.1165, target is open.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com