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14.10.201908:14 Forex Analysis & Reviews: Trading plan for EUR/USD for October 14, 2019

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Technical outlook:

The EUR/USD pair is comfortable out into the Buy Zone, breaking above its resistance trend line as seen here. It is trading around 1.1030 levels at this point in writing, looking to push through 1.1075. Earlier, the pair has formed a strong support at 1.0940 and is expected to stay above that until resistance at 1.1110 is taken out. Please note that a break above 1.1110 would confirm that EUR/USD is hearing north toward 1.1450 levels at least, and that a meaningful low is already in place at 1.0879. Trading point of view, it is still a safe strategy to hold long positions while risk could be defined at 1.0879 levels respectively. Please take profits ahead of 1.1110 levels, since a meaningful retracement can be expected after that. We expect EUR/USD to trade through 1.1450 levels in the coming weeks.

Trading plan:

Remain long against 1.0879, targeting 1.1110 at least,

Good luck!

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