empty
 
 
26.10.2018 03:43 PM
EUR / USD: plan for the US session on October 26. Data on the US economy may limit the fall of the euro

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

Euro buyers failed to return to the important resistance level of 1.1387, which I paid attention to in the morning review, which led to a further sale. Currently, the emphasis is on support level of 1.1337. The formation of a false breakdown in this range, after the release of data on the US economy, with confirmation of the divergence on the MACD indicator, will lead to an increase in EUR / USD in the second half of the day and return the pair to the resistance area of 1.1387, where I recommend fixing the profits. In the case of the euro falling below the support level of 1.1337, it is best to return to long positions from new lows to rebound around 1.1300 and 1.1251.

To open short positions on EUR / USD, you need:

Sellers formed a false breakdown in the morning resistance area of 1.1387, which led to a further decline in the euro. At the moment, the target is the support area of 1.1337, the breakdown of which will open a direct road to the August lows area to the levels of 1.1300 and 1.1251, where I recommend fixing the profits. In the case of weak data on the growth of the US economy, and the formation of a false breakdown at 1.1337, the euro is best sold to rebound from resistance of 1.1387 and 1.1429.

Indicator signals:

Moving Averages

Trade is conducted under the 30- 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 is located in the area of 1.1337 and can support the euro. Its breakdown will lead to a larger sale of EUR / USD. The upper limit around 1.1387 limits the upside potential of the euro.

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