EUR/USD: plan for the European session on March 13. Buyers negate the bearish trend

Trading 13 mar 2019 Donner votre avis

To open long positions on EURUSD you need:

The euro's next growth negated the bears' plans for a quick continuation of the downward trend. At the moment, it is best to return to long positions from the support of 1.1269, provided a false breakdown occurs, or to rebound from a low of 1.1238. Buying at the breakout of the resistance of 1.1303 will not be the right decision, since it is possible to form a divergence on the MACD indicator, which can lead to a decline in the euro. In the scenario of a breakthrough above 1.1303, against the background of good news on the eurozone, you can open short positions immediately on the rebound from a high of 1.1336.

To open short positions on EURUSD you need:

Bears will count on another unsuccessful attempt to break through the resistance of 1.1303, with the formation of a divergence on the MACD indicator, which may lead to a downward correction in the area of 1.1269 and 1.1238, where I recommend to lock in profits. In case of good data on the volume of industrial production in the eurozone, the growth of EUR/USD may continue; in this scenario, it is best to return to short positions against the trend to rebound from a high of 1.1336.

Indicator signals:

Moving averages

As long as trading will be above 30-day and 50-day moving averages, the demand for euros will continue.

Bollinger bands

The growth of the euro may be limited by the upper limit of the Bollinger Bands indicator in the area of 1.1303, while a breakthrough of the lower boundary of the indicator in the area of 1.1274 will be a signal to sell the euro.

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Indicator description

  • Moving Average (average sliding) 50 days - yellow
  • Moving Average (average sliding) 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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