EUR / USD pair: plan for the US session on December 4. Conclusion of the European Court supported the euro

Trading 04 déc 2018 Donner votre avis

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

Buyers have broken through the resistance level of 1.1400 in the morning and are trying to gain a foothold on it. The European Court of Brexit decision supports the euro, which could lead to a further increase in the EUR/USD pair and an update of the maximum around 1.1433. However, the main purpose of the bulls will be testing the resistance level of 1.1471, where I recommend taking profits. In the case of a decline and a return below the level of 1.1400 in the second half of the day, long positions are best considered for a rebound from the support of 1.1365.

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

Sellers are still not in a hurry to return to the market, and therefore it is best to rely on short positions after updating the daily maximum around 1.1433 or to rebound from a larger resistance 1.1471. The main task of the bears in the afternoon will be returning and consolidating below the level of 1.1400, which will lead to a fixed profit and a decrease in EUR/USD pair to the support area of 1.1365, where I recommend taking profits.

Indicator signals:

Moving averages

Trade is conducted above the 30 and 50-day moving averages, which indicates the formation of an upward movement.

Bollinger bands

In the event of a decline in the euro, long positions can return immediately to the rebound from the middle border of the Bollinger Bands indicator, which is located in the 1.1365 area.

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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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