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: plan for the European session on September 17. Bears dragged the market to their side

September 18, 2018 Analytics

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

Good data on the US economy returned the demand for the US dollar on Friday. At the moment, consider the long positions in the euro best after a false breakdown at the level of support 1.1627 or a rebound from the new low in the area of 1.1603. The main task for buyers in the first half of the day will be a breakdown and consolidation above the resistance of 1.1650, which will allow to expect a test of the maximum of 1.1671 and 1.1702, where I recommend fixing the profits.

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

Sellers will try to form a false breakdown at the resistance level of 1.1650, just above which is the 30-day moving average, which also limits the upside potential in the euro. The main task will be to re-test and consolidate below the support level of 1.1627, which will keep the downside potential in EUR / USD and lead to the minimum in the area of 1.1603 and 1.1574, where I recommend fixing the profit. If the euro rises above 1.1650 in the morning, consider short positions can immediately be rebounded from resistance 1.1671.

Indicator signals:

The 30-day moving average breaks down the 50-day moving average, which is a signal for the sale of the European currency.

analytics5b9f4ba292088.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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