EUR / USD: plan for the US session on October 18. Euro buyers are trying to return to the market
To open long positions on EUR / USD, you need:
The breakthrough of the important support level of 1.1481, to which I drew attention in the morning review, did not occur, which allowed buyers to return to the market. New long positions are best opened after the support update of 1.1501, and the main target will be a large resistance level of 1.1540, at which the 50-day average is also located. The breakthrough will lead to a new high of 1.1573, where I recommend fixing the profits. In the case EUR / USD returns under the support level of 1.1501, it is best to return to long positions to rebound from 1.1457.
To open short positions on EUR / USD, you need:
Sellers in the second half of the day need a quick return below the support level of 1.1501, which will lead to the continuation of the downward trend in the euro and updating the minimum in the region of 1.1457 and 1.1434, where I recommend fixing the profits. In the case of the second wave of EUR / USD growth, short positions can be returned to the rebound from the resistance of 1.1540 or from the maximum of 1.1573.
Trade is conducted under the 30- and 50-day average, which indicates the formation of a downward trend in the euro.
The breakdown of the middle border of the Bollinger Bands indicator in the area of 1.1507 will come to the return to the market of sellers and a new wave of the euro fall. However, the downward potential may be limited by the lower boundary in the area of 1.1485.
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