You are here: Home > articles > Forex > EUR / USD: plan for the European session on January 17. Weak data prevent euro buyers from starting a correction
EUR / USD: plan for the European session on January 17. Weak data prevent euro buyers from starting a correction
January 17, 2019 10:23 amVideo
Latest News
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
- Hot forecast for EUR/USD on April 19, 2024 April 19, 2024
- We’ve Donated Books in Vietnam for Children’s Day April 19, 2024
- Week Ahead – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Technical Analysis – GBPJPY range trading continues April 19, 2024
- Overview of the GBP/USD pair on April 19th. The Bank of England may lower the rate in May April 19, 2024
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
- Trading plan for GBP/USD on April 19. Simple tips for beginners April 19, 2024
- Trading plan for EUR/USD on April 19. Simple tips for beginners April 19, 2024
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
To open long positions on EUR / USD, you need:
The euro fell yesterday amid weak eurozone data. Today, you can take a closer look at purchases when forming a false breakdown at the level of 1.1375. However, it should be borne in mind that this will be the third test of this range, which may lead to its breakdown. In this scenario, it is best to open long positions to rebound from support of 1.1343. The main task of buyers is to return to the resistance level of 1.1411, which will lead to a larger upward correction to the maximum of 1.1451 and 1.1490, where I recommend fixing the profits. Today’s data on inflation in the euro zone may put pressure on the euro in the morning.
To open short positions on EUR / USD, you need:
Sellers will manifest themselves after the formation of a false breakdown at the resistance level of 1.1411, which will increase the pressure on the euro, but the main task will be a breakthrough of support for 1.1375, which will lead to a larger sale of EUR / USD with access to the minimums of 1.1343 and 1.1312, where I recommend fixing the profit. If after a test of a minimum of 1.1375 rapid downward movement is not formed, I recommend closing short positions, since a large upward correction in euro can be formed from this level. Weak data on inflation in the eurozone may help the bears to break below the support of 1.1375.
Indicator signals:
Moving Averages
Trading remains below the 30-day and 50-day moving averages, which indicates the bearish nature of the market.
Bollinger bands
Volling Bollinger Bands is very low, which does not give signals to enter the market.
Description of indicators
MA (moving average) 50 days – yellow
MA (moving average) 30 days – green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: