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.

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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 - www.instaforex.com

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