EUR/USD: plan for the American session on May 21. A good indicator of consumer confidence stopped the fall of the euro
May 21, 2019 4:21 pm
To open long positions on EURUSD, you need:
Euro buyers revived after a good report on consumer confidence, which improved slightly. To return to the market, bullish sentiment requires a breakdown and consolidation above the resistance of 1.1159, which will allow us to count on updating the maximum of 1.1180, where I recommend fixing the profits. In the event of a further decline in the euro, support will be provided by the new level of 1.1138, where it is best to open long positions when forming a false breakdown. I recommend buying for a rebound only after the test of a minimum of 1.1112.
To open short positions on EURUSD, you need:
Bears need to form a false breakdown in the resistance area of 1.1159, which will maintain the downward potential and lead to a further reduction of EUR/USD to the support area of 1.1138, where today I recommend fixing the profits. The main target will be the low of 1.1112. If the growth scenario is higher than 1.1159 in the second half of the day, short positions can be considered to rebound from a maximum of 1.1180.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates a slowdown in the downward trend.
Bollinger Bands
The volatility of the indicator is 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
To open long positions on EURUSD, you need:
Euro buyers revived after a good report on consumer confidence, which improved slightly. To return to the market, bullish sentiment requires a breakdown and consolidation above the resistance of 1.1159, which will allow us to count on updating the maximum of 1.1180, where I recommend fixing the profits. In the event of a further decline in the euro, support will be provided by the new level of 1.1138, where it is best to open long positions when forming a false breakdown. I recommend buying for a rebound only after the test of a minimum of 1.1112.
To open short positions on EURUSD, you need:
Bears need to form a false breakdown in the resistance area of 1.1159, which will maintain the downward potential and lead to a further reduction of EUR/USD to the support area of 1.1138, where today I recommend fixing the profits. The main target will be the low of 1.1112. If the growth scenario is higher than 1.1159 in the second half of the day, short positions can be considered to rebound from a maximum of 1.1180.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates a slowdown in the downward trend.
Bollinger Bands
The volatility of the indicator is low, which does not give signals to enter the market.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
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