empty
 
 
18.06.2019 02:27 PM
EUR/USD: plan for the US session on June 18. Draghi scared buyers of the euro and pushed the pair down

To open long positions on EURUSD, you need:

Euro buyers retreated after statements by ECB President Mario Draghi that he will not tolerate low inflation. The breakthrough of the support of 1.1216 predictably led to a decline in the euro. At the moment, the bulls took advantage of the new low of 1.1180, which I paid attention to in my morning forecast, and managed to stop the decline of the pair. However, repeated testing of this range may lead to a further fall of EUR/USD. In such a scenario to count on a new long position is better from major support of 1.1139. The task of the bulls for the second half of the day will be to consolidate above the resistance of 1.1216, which will lead to an upward correction to the area of 1.1245, where I recommend taking the profits.

To open short positions on EURUSD, you need:

The task of the euro sellers for the second half of the day will be to keep the pair below the resistance of 1.1216, and the formation of a false breakdown will indicate a return to the market of major players aimed at breaking the support of 1.1180. Below this range, open the lows around 1.1150 and 1.1139, where I recommend taking the profit. In the EUR/USD growth scenario above the resistance of 1.1216, short positions can be returned to the rebound from the daily local maximum of 1.1245.

Indicator signals:

Moving Averages

Trading is conducted below 30 and 50 moving averages, which indicates a preponderance of the market in the direction of sellers.

Bollinger Bands

In the scenario of the euro growth in the second half of the day, the average line of the indicator around 1.1216 will act as a resistance.

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