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EUR/USD: plan for the European session on December 19. The demand for the euro may remain ahead of the Fed decision
December 19, 2018 8:24 amVideo
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To open long positions on EURUSD you need:
Another wave of growth of the EUR/USD led to a renewal of the highs and a resistance test of 1.1401. Only a breakthrough with a consolidation above this level will be a buy signal with an exit to the new levels 1.1426 and 1.1445, where I recommend taking profit. In the event of a decline in the euro in the first half of the day, you can take a closer look at long positions in a false breakdown around 1.1368 or at a rebound from a low of 1.1338.
To open short positions on EURUSD you need:
Only an unsuccessful consolidation above the resistance of 1.1041, which coincides with the release of a weak report on producer prices in Germany, will be a signal to open short positions in euros in order to return and retest the support of 1.1368. The main task of bears in the first half of the day will be a break below this level, with a minimum test of 1.1338, where I recommend taking profits. In case of growth above the level of 1.1401, it is possible to open short positions on the euro to rebound from the high of 1.1426 and 1.1445.
Indicator signals:
Moving averages
Trade is conducted just above the 30-day and 50-day moving average, with a short-term advantage of buyers of the European currency.
Bollinger bands
The euro can be supported by the lower limit of the Bollinger Bands indicator, which is located in the area of 1.1352, from which you can see purchases immediately on a rebound. The upper limit, which coincides with the resistance of 1.1401, limits the growth of the euro.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
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