empty
 
 
22.03.2019 05:31 PM
EUR / USD plan for the European session on March 22. The trick of Fed has failed

To open long positions on EUR / USD pair, you need:

Euro buyers quickly came to life yesterday after a sharp rise in the pair amid Fed statements. At the moment, growth is limited by the resistance of 1.1396 and opens two possible scenarios. One of which is a fixation there will allow us to count on the continuation of the upward trend in the area of 1.1427 and the other is an update of the maximum of the week in the area of 1.1459, where I recommend taking profits. With the EUR / USD decline scenario in the first half of the day, long positions can be viewed at a false breakdown from the support of 1.1366 but it is best to return to purchases from 1.1334 and 1.1301 lows.

To open short positions on EURUSD you need:

The Weak data on PMI indices for the eurozone countries may return pressure on the euro. An unsuccessful consolidation above the resistance of 1.1396 will be the first signal to open short positions in order to reduce to the support area of 1.1366. A breakthrough of which will lead to a larger sale of the EUR/USD pair to the minima of 1.1334 and 1.1301, where I recommend taking profits. In the case of strong growth of the euro above 1.1396, it is best to return to short positions on a rebound from the resistance levels of 1.1427 and 1.1459.

Found in the video review.

Indicator signals:

Moving averages

Trade is conducted below the 30- and 50-day moving average, which indicates the formation of a bearish trend in the market. A failure to consolidate above the moving average in the first half of the day will be a signal to sell the euro.

Bollinger bands

The growth of the euro will be limited by the upper limit of the Bollinger Bands indicator in the area of 1.1395 while the lower boundary of the indicator in the area of 1.1350 may limit the downward correction.

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