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EUR / USD pair: plan for the European session on September 26. Today, the Fed will raise rates
September 27, 2018 5:22 amVideo
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To open long positions for EUR / USD pair, you need:
Today, the Fed will announce its rate decision in the afternoon. Most likely, there will be no significant changes in the market, and trade will continue around the middle of the side channel at 1.1763. After raising rates on the part of the Fed, I expect a sharp rise in the US dollar to the support level of 1.1726 or even lower to 1.1687, from which I recommend to gain long positions in the European currency. A breakthrough of resistance at 1.1802 will also be a signal for euro purchases to test the highs around 1.1830 and 1.1866, where fixing profits are recommended.
To open short positions for EUR / USD pair, you need:
Euro can be sold in the morning after the growth in the resistance area of 1.1802 or on the rebound from 1.1830. The main goal for short positions will be the lower limit of the lateral channel at 1.1726, but the whole calculation will be for raising rates in the US, which will lead to a short-term growth of the US dollar and a possible renewal of the low at 1.1687, where fixing profits are recommended. In case of growth above 1.830, selling the euro is best for a rebound from 1.1866.
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 can only be after the return of the price above the moving average.
Bollinger Bands
I do not recommend paying attention to Bollinger Bands performance today.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
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