empty
 
 
20.09.2019 07:50 AM
EUR/USD: plan for the European session on September 20. The Federal Reserve Bank of New York continues to buy billions of dollars in debt, and the euro is still waiting for active action by the Fed

To open long positions on EURUSD you need:

Yesterday it became known that the Federal Reserve Bank of New York conducted another buyback of debts in the amount of $ 75 billion, thereby providing banks with liquidity support. This time, sellers of the US dollar left this fact unattended, while on Tuesday this news led to a fall in the US dollar. Nothing has changed at all from a technical point of view. Buyers still need to break above the resistance of 1.1074, which will lead to the euro's continued growth to the area of a high of 1.1110, as well as to update a larger resistance level at 1.1151, where I recommend taking profits. If the pressure on the euro returns in the morning, then it is best to consider new purchases after updating support at 1.1031, with the condition of the next formation of a false breakdown there, or a rebound from a larger low in the region of 1.0992.

To open short positions on EURUSD you need:

Traders ignored the data on the state of the US economy yesterday in the afternoon, as well as a report on the negative growth of the current account balance of the US balance of payments, which maintained equilibrium in the market. Sellers will continue to wait for a breakout of support at 1.1031, which will increase the pressure on the pair and will lead to a further decrease to the area of a larger low 1.0992 and 1.0955, where I recommend taking profits. In case the pair grows in the first half of the day to the resistance area of 1.1074, one can look at short positions only on a false breakdown. You can sell EUR/USD immediately for a rebound from last week's high in the region of 1.1110. Given that important fundamental statistics are not expected today, volatility may remain quite low.

Signals of indicators:

Moving averages

Trade is conducted in the region of 30 and 50 moving averages, which indicates market uncertainty.

Bollinger bands

A break of the lower boundary of the indicator at 1.1040 will increase pressure on the euro, while the upper boundary at 1.1074 will limit the upward potential in the morning.

This image is no longer relevant

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
Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback