You are here: Home > articles > Forex > EUR/USD: plan for the European session on April 2. Traders increasingly trust the US dollar
EUR/USD: plan for the European session on April 2. Traders increasingly trust the US dollar
April 2, 2019 8:26 amVideo
Latest News
- Market Comment – Dollar trades sideways as focus turns to US yields May 29, 2024
- Nasdaq hits 17,000 milestone as market swings continue May 29, 2024
- Forex forecast 05/29/2024: EUR/USD, EUR/JPY, GBP/JPY and Oil from Sebastian Seliga May 29, 2024
- USD/JPY: trading tips for beginners for European session on May 29 May 29, 2024
- GBP/USD: trading tips for beginners for European session on May 29 May 29, 2024
- Will core PCE inflation spur a less hawkish Fed? – Preview May 29, 2024
- EUR/USD: trading tips for beginners for European session on May 29 May 29, 2024
- Technical Analysis – NZDUSD pauses advance at 61.8% Fibonacci May 29, 2024
- EUR/USD and GBP/USD: Technical analysis on May 29 May 29, 2024
- Trading plan for GBP/USD on May 29. Simple tips for beginners May 29, 2024
- Trading plan for EUR/USD on May 29. Simple tips for beginners May 29, 2024
- Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Wednesday June 05, 2024. May 29, 2024
- Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 29, 2024. May 29, 2024
- Overview of GBP/USD on May 29. Pound continues to surge and break barriers May 29, 2024
- Overview of EUR/USD on May 29. Calm news and a stubborn euro May 29, 2024
- A chance for the kiwi. Overview of NZD/USD May 29, 2024
- Analysis of GBP/USD pair on May 28, 2024 May 28, 2024
- EUR/USD: What could stop the growth of the euro? A hypothesis May 28, 2024
- Inflation expectations in eurozone downgraded May 28, 2024
- Trading Signals for BITCOIN (BTC/USD) for May 28-30, 2024: sell below $69,000 (21 SMA – 200 EMA) May 28, 2024
To open long positions on EURUSD you need:
Yesterday’s weak US data did not prevent the US dollar from further strengthening, which led to an update of monthly lows. At the moment, euro buyers need to return to the resistance level of 1.1212, where a new upward trend may start with a test of the upper limit of the side channel at 1.1244, where I recommend taking profits. With a weak report on producer prices in the eurozone, which is expected to be released in the first half of the day, it is best to look closely at long positions in EUR/USD after updating the lows of 1.1176 and 1.1149.
To open short positions on EURUSD you need:
As long as trade continues below the resistance of 1.1212, pressure on the euro will continue, and forming a false breakdown at this level will be a good signal for opening short positions. The main purpose of the bears today will be the lows in the area of 1.1176 and 1.1149, where I recommend taking profits. With the scenario of returning EUR/USD back to the side channel of 1.1212-1.1244, it is best to return to short positions from its upper limit or sell for a rebound from a high of 1.1269.
Indicator signals:
Moving averages
Trade is conducted below the 30-day and 50-day moving averages, which indicates a slight advantage for euro sellers.
Bollinger bands
The upper limit of the Bollinger Bands indicator in the area of 1.1232 will limit the first upward momentum in the euro. The breakthrough of the lower boundary in the area of 1.1190 will lead to forming a new wave of selling.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: