EUR / USD: plan for the US session on March 12. Bulls still resist
March 12, 2019 4:22 pm
To open long positions on EURUSD you need:
Weak inflation in the US helped the European currency to remain at the levels reached in the morning. At the moment, bulls need a breakdown with consolidation above the resistance of 1.1288, which will increase demand and lead to a test of new highs 1.1317 and 1.1343, with a complete breakdown of the downward technetium formed last week. In the case of EUR / USD decline in the second half of the day, it is best to look at long positions after the support test of 1.1252 or at a rebound from a minimum of 1.1225.
To open short positions on EURUSD you need:
Euro sellers made the expected pressure attempt, but weak data on the American economy crossed their plans. At the moment, bears urgently need a false breakdown in the resistance area of 1.1288, which will be a signal to open short positions in order to reduce in the area of a minimum of 1.1252, where I recommend fixing the profits. With a scenario of further growth of the euro above 1.1288, short positions can be returned to the rebound from resistance 1.1317.
Indicator signals:
Moving Averages
Trade remains above the 30-day and 50-moving averages, which indicates the lateral nature of the market, with the advantage of buyers.
Bollinger bands
A break of the middle border of the Bollinger Bands indicator in the area of 1.1255 will lead to a decrease in EUR / USD.
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
To open long positions on EURUSD you need:
Weak inflation in the US helped the European currency to remain at the levels reached in the morning. At the moment, bulls need a breakdown with consolidation above the resistance of 1.1288, which will increase demand and lead to a test of new highs 1.1317 and 1.1343, with a complete breakdown of the downward technetium formed last week. In the case of EUR / USD decline in the second half of the day, it is best to look at long positions after the support test of 1.1252 or at a rebound from a minimum of 1.1225.
To open short positions on EURUSD you need:
Euro sellers made the expected pressure attempt, but weak data on the American economy crossed their plans. At the moment, bears urgently need a false breakdown in the resistance area of 1.1288, which will be a signal to open short positions in order to reduce in the area of a minimum of 1.1252, where I recommend fixing the profits. With a scenario of further growth of the euro above 1.1288, short positions can be returned to the rebound from resistance 1.1317.
Indicator signals:
Moving Averages
Trade remains above the 30-day and 50-moving averages, which indicates the lateral nature of the market, with the advantage of buyers.
Bollinger bands
A break of the middle border of the Bollinger Bands indicator in the area of 1.1255 will lead to a decrease in EUR / USD.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
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