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 US session on October 19. The fall of the euro has slowed

October 20, 2018 Analytics

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

The buyers managed to keep the support level of 1.1434, which I paid attention to in my morning review, which led to profit taking and an upward correction in euro. Return and consolidation above the resistance level of 1.1456 is a good signal to buy the euro, based on the update of the maximum of 1.1482, where today, I recommend fixing the profits. The breakdown of this area may lead to larger growth in the area of 1.1516.

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

In the morning, the sellers worked out all their goals, which I spoke about in the morning, which led to profit taking. Consider selling euro today in the afternoon is best after the formation of a false breakdown in the area of 1.1482 or to rebound from a maximum of 1.1516. The main task will be to return to the support level of 1.1456, which will keep downward potential in EUR / USD next week.

Indicator signals:

Moving Averages

Trade is conducted under the 30- and 50-day average, which indicates the formation of a downward trend in the euro.

Bollinger bands

The breakdown of the middle border of the Bollinger Bands indicator in the area of 1.1507 will come to the return to the buyers market and update the above resistance levels.

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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

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

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