empty
09.11.2023 08:05 AM
Trading plan for EURUSD for November 09, 2023

This image is no longer relevant

Technical outlook:

EUR/USD dropped through the 1.0660 low on Wednesday before finding support. The pair raised through the 1.0715 high intraday on Thursday and is expected to push through the 1.0725 mark before turning lower again. Probability remains for a turn lower thereafter and a push through the 1.0610-20 zone in the near term.

Once the above Gartley is complete, bulls could come back in control (1.0610-20 range) and push higher through 1.0850 at least. A rally towards 1.0850-1.0900 would complete the larger degree counter trend rally, which began from 1.0450 earlier. Bears would be prepared to come back in control thereafter and drag lower below the 1.0450 mark.

EUR/USD is currently working on a recent upswing between 1.0510 and 1.0756. A corrective wave seems to be underway and has terminated its first sub-wave around the 1.0560 mark. Also note that its second leg is expected to complete around 1.0725. The last wave would then move towards the 1.0600-10 range before turning higher again.

Trading plan:

Potential drop to resume towards the 1,0600 mark, against 1.0760

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Trading Plan for the U.S. Session on July 3rd (Review of Morning Trades)

In my morning forecast, I focused on the 1.3659 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and review what happened

Miroslaw Bawulski 15:34 2025-07-03 UTC+2

EUR/USD: Trading Plan for the U.S. Session on July 3rd (Review of Morning Trades)

In my morning forecast, I highlighted the 1.1784 level as the key reference point for market entry. Let's take a look at the 5-minute chart and analyze what happened there

Miroslaw Bawulski 15:29 2025-07-03 UTC+2

How to Trade the GBP/USD Pair on July 3? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair plunged like a stone dropped from a skyscraper, prompting currency analysts to immediately search for the reasons

Paolo Greco 06:53 2025-07-03 UTC+2

How to Trade the EUR/USD Pair on July 3? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair attempted to begin a new round of downward correction, and the result of this attempt

Paolo Greco 06:33 2025-07-03 UTC+2

Trading Recommendations and Analysis for GBP/USD on July 3: Manipulation for the Sake of a New Rally?

On Wednesday, the GBP/USD currency pair crashed for no apparent reason. There was no major news in either the UK or the US that could have triggered a nearly 200-point

Paolo Greco 03:45 2025-07-03 UTC+2

Trading Recommendations and Analysis for EUR/USD on July 3: The Euro Holds Up, the Pound Plunges

On Wednesday, the EUR/USD currency pair declined slightly but generally showed no inclination to follow the British pound, which had crashed by nearly 200 points. The euro remained above

Paolo Greco 03:45 2025-07-03 UTC+2

GBP/USD: Strategy for the U.S. Session on July 2nd (Analysis of Morning Trades)

In my morning forecast, I focused on the 1.3713 level and planned to make trading decisions from there. Let's look at the 5-minute chart and examine what happened. Although

Miroslaw Bawulski 18:28 2025-07-02 UTC+2

EUR/USD: Strategy for the U.S. Session on July 2nd (Analysis of Morning Trades)

In my morning forecast, I highlighted the 1.1763 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened. The pair

Miroslaw Bawulski 18:25 2025-07-02 UTC+2

How to Trade the GBP/USD Pair on July 2? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair also showed signs of continuing its upward movement. Only during the U.S. trading session did the dollar

Paolo Greco 07:15 2025-07-02 UTC+2

How to Trade the EUR/USD Pair on July 2? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair once again traded with an upward bias and ended the day with gains. The new ascending

Paolo Greco 07:04 2025-07-02 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.