EUR / USD: plan for the American session on January 3. Upward correction coming to an end

Trading 03 jan 2019 Donner votre avis

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

The upward correction in the euro is coming to an end, as the buyers failed to continue and break through above the resistance of 1.1386. Only a real breakthrough and consolidation above this level will lead to the renewal of a larger area of 1.1433, where I recommend taking profits. It is best to consider buying the euro after the formation of a false breakdown in the support area of 1.1352. Otherwise, long positions can be opened to rebound from a minimum of 1.1312.

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

In the first half of the day, the bears completed the installation and managed to form a false breakdown in the area of resistance 1.1386, which led to the formation of a new wave of euro sales. The main goal for the second half of the day will be a breakout and consolidation below 1.1352 support, which will lead to the sale of EUR / USD to the area of this week's minimum 1.1312. Further fall of the euro to 1.1272 will directly depend on the data that will be released on the American economy.

Indicator signals:

Moving averages

Trade remains below the 30- and 50-day averages, which indicates that the bearish nature of the market remains.

Bollinger bands

The break of the middle border of the Bollinger Bands indicator around 1.1352 will be a sell signal. The lower limit in the area of 1.1320 will limit the downward potential.

More in the video forecast for January 3

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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

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

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