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EUR / USD pair – plan for the European session on September 25. Euro rose on statements of Mario Draghi, but did not hold
September 25, 2018 3:21 pmVideo
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To open long positions for EUR / USD pair, you need:
Buyers are again required to return to the resistance level of 1.1767, which is the middle of the side channel. The breakthrough of this range, which took place yesterday after the ECB President Mario Draghi’s speech, will once again bring the euro back to the market, which will lead to the renewal of the upper boundary of the lateral channel 1.1801. Tt is likely to test the new monthly highs around 1.1830 and 1.1866, where fixing profits are recommended. In the case of a decline in the euro in the morning, you can go back to purchases on testing the support test of1.1726 or on a rebound from the 1.1687 low.
To open short positions for EUR / USD pair, you need:
As for the sellers of the euro, they need a false breakdown from the resistance level of 1.1767, which will lead to a new wave of decline and update the support level of 1.1726 with a test of a minimum of 1.1687, where fixing profits are recommended. In the case of a decline in the euro in the morning, you can go back to purchases on testing the support level of 1.1726 or on a rebound from the 1.1687 low.
Indicator signals:
Moving Averages
The 30-day moving average is on par with the 50-day average, which indicates the lateral nature of the market. Considering the resumption of the upward trend will only be possible after the return of the price above the moving average.
Bollinger Bands
Support for euro buyers will be the lower bound of the bands around 1.1726, and the upper limit of the bands near 1.1785 will act as an intermediate resistance.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
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