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16.10.201812:46 Forex Analysis & Reviews: EUR / USD: plan for the US session on October 15. The euro buyers return to the market

Análisis a largo plazo

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

The breakthrough and consolidation at the level of 1.1570, to which I paid particular attention in my morning review, led to a resumption of growth of the European currency. The main purpose of buyers now is the update of last week's maximum of 1.1609, a breakthrough of which will be an additional signal for opening long positions, with access to the maximums of 1.1648 and 1.1682, where I recommend fixing the profits. If the euro declines in the second half of the day after good data on US retail sales, long positions can be returned after the support test of 1.1570 or to rebound from a week low of 1.1537.

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

Sellers will rely on unsuccessful fixing above the resistance level of 1.1609, and good data on retail sales in the US will lead to a decrease in EUR / USD to the support area of 1.1570, where I recommend fixing the profits. If a quick sell-off after the update of last week's high does not follow, I recommend returning to short positions in euro only to rebound from the resistance level of 1.1648. A break of support at 1.1570 will instantly lead to a decline in the euro to the area of today's low of 1.1537.

Indicator signals:

Moving Averages

The price returned above 30 and 50 average, which indicates a change in market sentiment in favor of buyers, however, to consolidate the result, a 30-day average 50-day crossover is required.

Bollinger bands

Buyers broke above the upper line of the Bollinger Bands indicator, which indicates the presence of large buyers in the market. In the event of a decline in the euro this afternoon, support will be provided by the middle of the channel of 1.1565.

Exchange Rates 16.10.2018 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

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Miroslaw Bawulski,
Experto analítico de InstaForex
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