For Traders

Analytical Reviews

Trading plan

09.03.202208:53 Forex Analysis & Reviews: Trading plan for EUR/USD on March 9, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

A strong downward momentum on the EURUSD pair has been going on for a long time. The question arises, what correction levels can be expected to sell this pair?

The first significant resistance is the Weekly Control Zone 1.1017-1.1.0998. While the pair is trading below this zone, it is necessary to concentrate on finding a pattern to sell the instrument. A test of the specified zone will give the most favorable prices for entering a short position. Due to the strong pressure of the current situation, a reversal bearish pattern may form after a false breakout of yesterday's high.

It is important to understand that such a strong bearish momentum cannot be broken in a short time and the transition to a new phase will take quite a long time. This may take one to three months. In this regard, the search for purchases at this stage is not profitable.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.