EUR/USD is presently endeavoring the upside and hopes to test the fourteen day tops at 1.1285, as benefit taking proceeds in front of the key occasions later today. The ECB meeting will be the striking occasion in Euroland, where desires are tilted towards a to some degree timid message.

From a specialized point of view, the pair slowed down its ongoing positive move close 38.2% Fibonacci retracement dimension of the 1.1448-1.1184 late slide however has figured out how to hold simply above mid-1.1205s (23.6% Fibo. level), beneath which the fall could get reached out back towards the 1.1215-1.1205 support area. This is intently trailed by the 1.1180-75 area, bolster set apart by 61.8% Fibonacci retracement dimension of the 1.0341-1.2556 up-move, which whenever broken may turn the pair powerless against slide further towards testing sub-1.1105 level. The later speaks to diving pattern line support reaching out from August 2018 through low posted in Nov. 2018 and should go about as a key vital point for the pair’s close term direction.

On the other side, the 1.1285 area (38.2% Fibo. level) may keep on going about as a prompt obstacle, which whenever cleared can possibly lift the pair further past the 1.1300 round figure mark, and half Fibonacci retracement level, towards testing its next obstacle close to the 1.1325 supply zone. Supported quality past the referenced boundary may keep filling the recuperation energy, but any resulting up-move appears to be bound to stay topped at half year old diving pattern line obstruction, as of now close to the 1.1360-65 area.

04/10/2019 

PENDING ORDER BUY  EUR/USD @ 1. 1273      SL:  1. 1258            TP1: 1.1288     TP2: 1.1303     TP3: 1.1318

PENDING ORDER SELL  EUR/USD @ 1.1254    SL:    1.1269            TP1: 1.1239     TP2: 1.1224     TP3: 1.1209

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John Wat

About: John Wat

Forex analyst with 10 years experience in Forex market.Trading Expert ABC Breakouts, Trendlines breakouts, Supply & Demand, Customized Elliot Wave.