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Long-term review

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

The GDP data from eurozone coincided with forecasts of economists, which allowed buyers to keep the European currency at the support level of 1.1251, where I recommended buying in my morning forecast. At the moment, the main task of the bulls will be a breakthrough and consolidation above the resistance of 1.1292, which will lead to a larger upward correction in the area of maximum 1.1329, where I recommend fixing profits. In the case of a downward movement, it is best to consider new purchases to rebound from the next weekly minimum of 1.1215.

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

The bears showed themselves in the morning, forming a false breakdown in the area of resistance 1.1292, which I paid attention in my morning review. At the moment, sellers can again declare themselves at the test level of 1.1292, however, it is best to expect a rebound from the resistance of 1.1329 for more serious short positions in the euro. The main task of the bears is to return in the afternoon to the support of 1.1251, which will lead to a larger sale of the euro to the area of 1.1215 minimum, where I recommend taking profits. However, a more powerful downward movement will depend on important news on the American economy, which are expected today.

More in the video forecast for February 14

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-medium moving, which indicates the possible formation of the lateral nature of the market.

Bollinger bands

The volatility of the Bollinger Bands indicator falls, which does not give signals to enter the market. However, a breakthrough of the upper border in the region of 1.1292 may lead to a larger growth of the European currency.

Exchange Rates 14.02.2019 analysis

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Ruben Watson,
Analytical expert
InstaForex Group © 2007-2020
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