EUR/USD: plan for the European session on January 24. Euro buyers pulled the market to their side
January 24, 2019 9:21 am
To open long positions on EURUSD you need:
A good report on consumer confidence in the eurozone helped buyers to get above the range of 1.1376 yesterday, and as long as trade is conducted above this level, the demand for the euro will continue. The formation of a false breakdown in this area will be a signal to buy in order to update the upper limit of the side channel in the area of 1.1411, but the main task will be the breakdown of this area with access to the highs of 1.1451 and 1.1526. Much will depend on the press conference of ECB President Mario Draghi, which is scheduled for the afternoon. In case of a return below the level of 1.1376, you can take a closer look at long positions from the lower limit of 1.1339.
To open short positions on EURUSD you need:
The bears are required to return below the middle of the channel of 1.1376, which will lead to a larger sale of the European currency in the region of the lower border of 1.1339, but its main task will be its breakthrough with the renewal of the low in the regions of 1.1307 and 1.1272. Given the fact that Mario Draghi is unlikely to announce an increase in interest rates in the near future, we can expect a decline in the euro, and the formation of a false breakdown in the resistance area of 1.1411 will be an additional signal for opening short positions.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving averages, which indicates the formation of the lateral nature of the market.
Bollinger bands
The volatility of the Bollinger Bands 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:
A good report on consumer confidence in the eurozone helped buyers to get above the range of 1.1376 yesterday, and as long as trade is conducted above this level, the demand for the euro will continue. The formation of a false breakdown in this area will be a signal to buy in order to update the upper limit of the side channel in the area of 1.1411, but the main task will be the breakdown of this area with access to the highs of 1.1451 and 1.1526. Much will depend on the press conference of ECB President Mario Draghi, which is scheduled for the afternoon. In case of a return below the level of 1.1376, you can take a closer look at long positions from the lower limit of 1.1339.
To open short positions on EURUSD you need:
The bears are required to return below the middle of the channel of 1.1376, which will lead to a larger sale of the European currency in the region of the lower border of 1.1339, but its main task will be its breakthrough with the renewal of the low in the regions of 1.1307 and 1.1272. Given the fact that Mario Draghi is unlikely to announce an increase in interest rates in the near future, we can expect a decline in the euro, and the formation of a false breakdown in the resistance area of 1.1411 will be an additional signal for opening short positions.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving averages, which indicates the formation of the lateral nature of the market.
Bollinger bands
The volatility of the Bollinger Bands 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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