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EUR / USD: plan for the US session on October 22. Bears are actively returning to the market
October 22, 2018 4:22 pmVideo
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To open long positions on EUR / USD, you need:
Buyers failed to cling to the resistance level of 1.1535, which led to the sale of the euro. The level of 1.1510 was also missed. Now, the task for the second half of the day is to return and consolidate above the resistance of 1.1515, which will lead to a re-rising wave with the update of this week’s high around 1.1548, where I recommend fixing the profits. In the event of a further decline in the euro, long positions can be viewed at the support update of 1.1487, with the formation of a false breakdown there, or at a rebound from the minimum of 1.1461.
To open short positions on EUR / USD, you need:
Sellers managed to form a false breakdown at the resistance level of 1.1535, which led to a decline in the euro. I paid attention to it in the morning review. At the moment, while the trade will be conducted below the resistance level of 1.1515, the pressure on the euro will remain, which can lead to a breakdown of the minimum of 1.1487, and to update the support of 1.1461, where I recommend fixing the profit. In the case of growth above 1.1535 in the second half of the day, you can sell the euro to rebound from the resistance of 1.1548.
Indicator signals:
Moving Averages
Trade is conducted over the 30- and 50-day average, which indicates the formation of an upward trend for the euro.
Bollinger bands
The lower limit of the Bollinger Bands indicator in the region of 1.1493 has kept the euro from selling, but a repeated test of this area will be a signal to open new short positions with a minimum of 1.1461.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
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