10.10.201918:21 Forex-elemzések és áttekintések: October 10, 2019 : EUR/USD Intraday technical outlook turned into bullish. Further bullish advancement yet to come.

Recent Descending-Tops were established around the price levels of 1.1060-1.1075 where the backside of both broken trends was retested.

This rendered the recent bullish spike above 1.1100 as a bullish trap.

Since then, the EUR/USD has been trending-down within the depicted short-term bearish channel until recent signs of bullish recovery were demonstrated around 1.0880 (Inverted Head & Shoulders Pattern).

Shortly After, a bullish breakout above 1.0960 confirmed the mentioned reversal Pattern which opened the way for further bullish advancement towards (1.1000 -1.1020) where another episode of bearish rejection was expected on October 7.

That's why, initial Intraday bearish pullback was expected towards 1.0940-10915 where another bullish swing was initiated as expected.

The intermediate-term outlook remains bullish as long as the EURUSD pair pursues its current movement above 1.0980 (recent ascending bottom).

Moreover, a quick bullish breakout above 1.1030 (0% Fibonacci Expansion) should be achieved. Thus, the short-term projection target remains projected towards 1.1065 and 1.1115.

Trade recommendations :

Intraday BUY entry can be considered upon a bearish pullback towards 1.1000 (Backside of the broken bullish uptrend).

T/P levels to be located at 1.1027 and 1.1065. S/L should be placed below 1.0960.