Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

EUR / USD pair: plan for the European session on September 18. All attention to the speech of the President of the ECB

September 19, 2018 Analytics

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

Buyers gave a good rebuff to sellers yesterday, which led in returning the pair to the area of large resistance levels today. Long positions in the euro can be considered after the formation of a false breakdown at the support level of 1.1698 or immediately to a rebound from 1.1670. The main task for the first half of the day will be the renewal of the large resistance in the area of 1.1732, where fixing profits are recommended. In the event of a negative market reaction to the speech of European Central Bank President Mario Draghi, it is the best to consider buying the euro from the lows of 1.1646 and 1.1620.

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

Sellers of the European currency urgently need to return to the level of support 1.1698, and you can do it already at the ECB president’s speech. A decrease under the above-mentioned area will lead to the closure of a number of long positions in euros and a decrease to the middle of the channel at 1.1670 and 1.1646. The main goal is to update the low at 1.1620, where fixing profits are recommended. In the case of a breakdown and consolidation scenario above the resistance of 1.1732, from which it will also be possible to watch sales in the first half of the day. It is recommended to open short positions of EUR / USD pair only after a test of a maximum of 1.1732 and 1.1759.

Indicator signals:

The 30-day moving average is on par with the 50-day average, which indicates the lateral nature of the market.

analytics5ba0a068e080d.png

Description of indicators

  • MA (average sliding) 50 days – yellow
  • MA (average sliding) 30 days – green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20

The material has been provided by InstaForex Company – www.instaforex.com

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