EUR / USD: plan for the US session on November 7. Bulls continue to update highs

Trading 07 nov 2018 Donner votre avis

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

Buyers worked the morning support level of 1.1430, which I paid attention to in my morning forecast, and now, they are trying to gain a foothold above the resistance of 1.1473. A test of this level from top to bottom on the volume will be a signal for further purchases of the euro in order to reach a maximum of 1.1516, where I recommend fixing the profits. In the event of a decline in the euro under the support level of 1.1473, long positions can be viewed at a rebound from the minimum of 1.1445.

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

Considering short positions in euros, in the current situation, it is best to rebound from the weekly resistance level around 1.1516, where buyers will also take profits. The main task for the second half of the day will be to return to the support level of 1.1473, which could push EUR / USD into the minimum area of 1.1445, where I recommend fixing the profits. In the case of growth above 1.1516, it is best to sell the euro after updating the maximum of 1.1548.

Indicator signals:

Moving Averages

Trade is conducted above the 30- and 50-day average, which indicates a continuation of the uptrend.

Bollinger bands

If the euro declines, support will be provided by the average Bollinger Bands indicator around 1.1445, from which you can buy euros for a rebound.

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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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