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24.09.201909:41 Forex Analysis & Reviews: Trading plan for EURUSD for September 24, 2019

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Technical outlook:

The EURUSD pair has dropped to 1.0965 levels and potentially formed a higher low. Looking at the wave structure, Wave (iii) should be unfolding higher after Waves (i) and (ii) terminating earlier at 1.1110 and 1.0927 respectively. Also note that waves i and ii within (iii) seem to be in place already. Wave ii has terminated within the permitted Fibonacci 0.786 retracement of Wave i at 1.0965 yesterday. Ideally, the structure is looking constructive for bulls until prices stay above 1.0927 levels, going forward. The immediate price resistance is at 1.1025 and a break above that would confirm that bulls are back in control. A video trade setup for EURUSD has been embedded below and published in the video section. Bottomline: Bullish setups prevail as wave (iii) unfolds higher from here.

Trading plan:

Remain long @ 1.0990, stop @1.0925, target @ 1.1185

Good luck!

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