EUR/USD: plan for the US session on October 23. The bears continue to put pressure on the euro
October 24, 2018 12:21 am
To open long positions for EURUSD, it is required:
Today, buyers are trying to cling to the support level of 1.1449 in the afternoon, and as long as trading continues above this range, the demand for the euro will remain. However, the main task is to break down and consolidate above the resistance of 1.1481, which was not possible in the first half of the day. Only after that can we expect a test of a high of 1.1512, where I recommend taking profits. In case the euro declines under the support level of 1.1449, it is best to return to long positions to rebound from a new low of 1.1423.
To open short positions for EURUSD, it is required:
Sellers managed to form a false breakdown at the resistance level of 1.1481, which led to a decline in the euro. I paid attention to it in the morning review. At the moment, bears need a second test and a breakthrough of support for 1.1449, which will lead to a new wave of decline in the EUR/USD with an exit to the lows of 1.1423 and 1.1397, where I recommend taking profits.
Indicator signals:
Moving averages
Trade is conducted under the 30-day and 50-day average, which indicates the formation of a downward trend in the euro.
Bollinger bands
The lower limit of the Bollinger Bands indicator around 1.1449 keeps the euro from falling, but the re-test of this will be a signal to open new short positions with a yield of at least 1.1423.
Indicator description
Moving Average (average sliding) 50 days – yellow
Moving Average (average sliding) 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 for EURUSD, it is required:
Today, buyers are trying to cling to the support level of 1.1449 in the afternoon, and as long as trading continues above this range, the demand for the euro will remain. However, the main task is to break down and consolidate above the resistance of 1.1481, which was not possible in the first half of the day. Only after that can we expect a test of a high of 1.1512, where I recommend taking profits. In case the euro declines under the support level of 1.1449, it is best to return to long positions to rebound from a new low of 1.1423.
To open short positions for EURUSD, it is required:
Sellers managed to form a false breakdown at the resistance level of 1.1481, which led to a decline in the euro. I paid attention to it in the morning review. At the moment, bears need a second test and a breakthrough of support for 1.1449, which will lead to a new wave of decline in the EUR/USD with an exit to the lows of 1.1423 and 1.1397, where I recommend taking profits.
Indicator signals:
Moving averages
Trade is conducted under the 30-day and 50-day average, which indicates the formation of a downward trend in the euro.
Bollinger bands
The lower limit of the Bollinger Bands indicator around 1.1449 keeps the euro from falling, but the re-test of this will be a signal to open new short positions with a yield of at least 1.1423.
Indicator description
Moving Average (average sliding) 50 days – yellow
Moving Average (average sliding) 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
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