Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

EUR/USD analysis for October 04, 2018

October 4, 2018 Analytics

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Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1463. According to the M30 time – frame, I found potential end of the downward movement. The price broke the supply trendline in the background, which is a sign that buyers are in control. I also found that price rejected from the monthly support 1 at the price of 1.1480, which is another sign of potential strength. My advice is to watch for buying opportunities. Take profit levels are set at the price of 1.1558 (intraday resistance 1) and at the price of 1.1592 (yesterday’s high).

Trading recommendations for today: watch for potential buying opportunities.

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

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