EUR / USD: plan for the US session on October 4. Traders are in no hurry to return to the market
To open long positions on EUR / USD, you need:
Euro buyers returned to the level of 1.1501, to which I drew attention in my morning review, and are preparing a technical structure for its breakdown, which is a good signal to buy euro in order to update the maximum of 1.1541, where I recommend fixing the profits. In the case of EUR / USD decline in the second half of the day, long positions can be returned on a false breakdown from the week minimum of 1.1463 or on the rebound from the support of 1.1399.
To open short positions on EUR / USD, you need:
An unsuccessful consolidation and return under the resistance level of 1.1501 will be another signal to open short positions in the euro with the aim of retesting and breaking the minimum of 1.1450, which will resume the downtrend and lead to a test of new support levels of 1.1399 and 1.1351, where I recommend fixing the profits. In the case of growth above resistance 1.1501, you can sell the euro immediately to rebound from a maximum of 1.1541.
The price returned under the 30- and 50-average, which indicates the further formation of the downward trend. As long as trading is below average, pressure on the euro will continue.
The resistance will be the upper line of the Bollinger Bands, from which you can watch the euro sales immediately to rebound, based on the formation of a false breakdown of the level of 1.1501 in the afternoon.
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