You are here: Home > articles > Forex > EUR / USD: plan for the US session on October 17. Inflation data did not help the European currency
EUR / USD: plan for the US session on October 17. Inflation data did not help the European currency
October 17, 2018 5:21 pmVideo
Latest News
- Technical Analysis – GBPUSD advances above descending trendline May 3, 2024
- USD experiences day X May 3, 2024
- Bitcoin licks wounds as Fed comes on the rescue – Crypto News May 3, 2024
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
- EUR/USD: Simple trading tips for novice traders on May 3rd (US session) May 3, 2024
- Could the BoE adopt a more dovish stance on Thursday? – Preview May 3, 2024
- EUR/USD. May 3rd. Bulls don’t give up without a fight May 3, 2024
- GBP/USD. May 3rd. Bears are counting on a strong US labor market May 3, 2024
- Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP May 3, 2024
- Weekly Forex Outlook: 03/05/2024 – BoE and RBA decisions headline a calm week May 3, 2024
- Week Ahead – BoE and RBA decisions headline a calm week May 3, 2024
- USD/JPY: trading tips for beginners for European session on May 3 May 3, 2024
- GBP/USD: trading tips for beginners for European session on May 3 May 3, 2024
- EUR/USD: trading tips for beginners for European session on May 3 May 3, 2024
- Technical Analysis – WTI futures break below 200 day-SMA May 3, 2024
To open long positions on EUR / USD, you need:
Weak data on inflation in the euro area, which remained unchanged last month, did not allow euro buyers to get out of the resistance level of 1.1569, which led to a decline and support test of 1.1534. If the bulls manage to form a false test there and return to this level in the second half of the day, we can expect a repeat test of the resistance level of 1.1569. If there is no rapid growth from this range, I recommend to postpone long positions in EUR / USD until the update of the minimum of 1.1490, which can be achieved on the Fed’s protocols.
To open short positions on EUR / USD, you need:
The sellers managed to form a false breakdown at the level of 1.1569 and did not let the pair go higher, which led to a decline in the euro in the first half of the day. During the first test of support for 1.1534, a slight upward correction can be observed, but a repeated test during the day will lead to a breakdown of this area, which will be a signal for the continuation of EUR / USD decline with a minimum of 1.1490 and 1.1434, where I recommend fixing the profits.
Indicator signals:
Moving Averages
Trade is conducted under the 30 and 50-day average, which indicates the formation of a downward trend in the euro.
Bollinger bands
The breakdown of the lower limit of the Bollinger Bands indicator led to an increase in short positions in euros, which makes it possible to count on the renewal of weekly lows.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: