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EUR / USD plan for the European session on May 14. Euro buyers started having problems with growth
May 14, 2019 11:22 amVideo
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To open long positions on EUR / USD pair, you need:
Yesterday, the bulls failed to keep trading above the level of 1.1241. Today, euro buyers need to return and consolidate above the new resistance of 1.1251 in the first half of the day, which will maintain an upward momentum and lead to an update of the highs around 1.1275 and 1.1299, where I recommend taking profits. However, plans for bulls can violate the fundamental data for the euro area. The pressure on the euro will increase in case of weak reports. In such a scenario, it is best to return to long positions on a false breakdown from a minimum of 1.1219 or a rebound from a higher level of 1.1188.
To open short positions on EUR / USD pair, you need:
The formation of a false breakdown in the area of resistance at 1.1251 will be the first signal to open short positions in the euro, which will also help form the upper limit of the new downward channel. This will lead to a correction in the intermediate support area of 1.1219. However, the main purpose of the bears today is to return and consolidate below this level, which will push the downward movement of the EUR/USD pair to the area of 1.1188, where I recommend taking profits. Under the scenario of further growth of the euro, it is best to open short positions to a rebound from a maximum of 1.1275 or even higher around 1.1300.
Indicator signals:
Moving averages
Trade is conducted in the region of 30 and 50 medium moving, which indicates a possible completion of the bullish market.
Bollinger bands
The growth of the euro will resume only in the event of a breakdown of the upper boundary of the indicator in the region of 1.1251, while the pressure will increase after fixing below the lower boundary in the region of 1.1219.
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
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