empty
 
 
05.04.2019 09:38 AM
EUR/USD: plan for the European session on April 5. Trade remains in the side channel with a slight prospect of growth above 1.1248 for the euro

To open long positions on EURUSD you need:

Yesterday's ECB minutes and data on the US labor market once again led to a demand for the US dollar that quickly ended, which made it possible for us to return to the resistance level of 1.1218 by the end of the day. To continue the upward trend, it is necessary to break through the resistance of 1.1248. A consolidation at this level will lead to a new upward wave with the update of the highs in the area of 1.1270 and 1.1294, where I recommend to take profits. In case of the euro declines in the first half of the day, it is best to consider new long positions, provided that a false breakdown is formed in the support area of 1.1218 or to rebound from the lower border of the side channel in the area of 1.1186.

To open short positions on EURUSD you need:

Bears will emerge in the resistance area of 1.1248, and while the trade will be conducted below this range, we can expect that the pressure on the euro will continue. However, the main task for the first half of the day will be to return below the middle of the wide side channel of 1.1218, which will increase the pressure on the euro and lead to a test of its lower boundary in the area of 1.1186, where I recommend taking profits. When the growth scenario is above 1.1248 in the first half of the day, it is best to consider short positions to rebound from resistances of 1.1269 and 1.1294.

Indicator signals:

Moving averages

Trade is conducted in the area of 30-day and 50-day moving averages, which indicates the lateral nature of the market.

Bollinger bands

Volatility is very low, which does not provide signals for entering the market.

This image is no longer relevant

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
Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback