EUR./USD analysis for April 09, 2019

EUR/USD has been trading upwards. The price tested the level of 1.1280. We are expecting more upside movement during the day.

analytics5cac8ea3210f1.jpg

According to the H1 time-frame, we found that ADX reading above the 30 level, which is sign of the strong trend and the momentum. You have much greater odds for profit with trading together with momentum and the trend. Most recently, we found that breakout of the intraday bullish flag in the background, which is confirmation that trend is stable and that more upside movement is expected. Support level is seen at the price of 1.1255 and 1.1245. Resistance levels are seen at the price of 1.1293 and 1.1315.

Trading recommendation: We are long EUR from 1.1278 with the targets at 1.1293 and 1.1315. Protective stop is placed below 1.1250.

The material has been provided by InstaForex Company - www.instaforex.com

Comments