empty
 
 
21.08.2019 02:32 PM
EUR/USD: plan for the US session on August 21. No news – no movement. The protocols of the Fed to undermine the markets

To open long positions on EURUSD, you need:

In the first half of the day, due to the lack of important fundamental statistics, the market remained in a narrow side channel, and the technical picture has not changed. Only the exit and consolidation above the resistance of 1.1105 will strengthen the demand for the euro and will lead to an update of a larger maximum of 1.1130, as well as to the resistance test of 1.1159, where I recommend taking profit after the publication of the Fed protocols. If traders do not find new hints of the committee to further reduce the rate, it is possible to reduce the EUR/USD scenario. In this case, in the second half of the day, it is best to return to long positions on the rebound from the minimum of 1.1068, or after the update of new monthly levels in the area of 1.1028.

To open short positions on EURUSD, you need:

Bears made a false breakdown in the resistance area of 1.1105 in the morning, and while trading is below this range, the probability of a decline in EUR/USD will be quite high. The main goal of the sellers will be the support levels of 1.1068 and 1.1028, where I recommend fixing the profit. However, after the publication of the minutes of the July meeting of the Fed, the situation can completely go under the control of buyers of the euro. With a breakout scenario above the level of 1.1105, it is best to open short positions on a rebound from the highs of 1.1130 and 1.1159.

Indicator signals:

Moving Averages

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

Bollinger Bands

Volatility decreases, which does not give signals to enter 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