Trading plan for EUR/USD on October 19, 2021

The movement during today's Asian session shows the trading priority of the EUR/USD pair. The sharp growth indicates the lack of strong resistance zones.

The opening of European trading above the Weekly Control Zone of 1/2 1.1620-1.1612 will make it possible to use any decline in this instrument to enter a long position. A strong impulse without volumes indicates the absence of large limit orders to sell the instrument. In turn, purchases will be profitable if the pair declines to yesterday's high.


The upward target is the Weekly Control Zone of 1.1717-1.1700. The task is to get the most favorable purchase prices and fix the profit on the target zone. Any downward movement with a 75% probability will be a correction, so it is necessary to focus only on the bullish impulse.

The alternative pattern cannot be developed from the current levels. It will take two days or more to form a reversal pattern.

The material has been provided by InstaForex Company -

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