Trading Plan for EUR/USD for March 09, 2018 888011000 110888 Technical outlook: The EUR/USD set reversed lower greatly after testing the current swing highs at 1.2444 levels yesterday. Please keep in mind that the total bigger photo certainly remains intact with price swings set to stay inclined lower from here. Interim resistance is now seen at 1.2445 levels, the other days ‘high, while instant support lies simply listed below the 1.2300 mark. The wave counts identified here recommend that waves 1 and 2 of a lower degree are total and that wave 3 is underway, which must unfold into 5 waves itself. An alternate situation could be that wave 2 is yet not finish and the restorative rally that began from 1.2154 levels may unfold into a more complicated structure. Because case, we might see yet another push above 1.2445 levels for wave 2 to terminate before wave 3 could resume. Note that the conventional Head and Shoulder pattern is likewise unfolding, and if it holds real, rates must remain below 1.2555 levels goingforward.Trading strategy: Please remain short and look to offer more on rallies. Threat stays above 1.2555 levels.Fundamental outlook: Watch out for CAD joblessness rate at 08:30 AM EST, also followed by USD Unemployment rate and NFP.Good luck!The product has actually been provided by InstaForex

By | March 9, 2018

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