EUR/USD: plan for the US session on April 28 (analysis of morning deals). Bulls turn again the market in their direction

Trading 28 avr 2020 Donner votre avis

To open long positions on EURUSD, you need:

In the first half of the day, I paid attention to the probability of forming a false breakout in the support area of 1.0816 and recommended opening long positions from there, which happened. If you look closely at the 5-minute chart, you will see how the bulls broke above the level of 1.0856 on the second attempt and easily reached the resistance of 1.0882, where the first profit-taking occurred. At the moment, the task of euro buyers is to break through and consolidate above this resistance, which will keep the pair in an upward trend and lead to the test of new highs of 1.0908 and 1.0937, where I recommend fixing the profits. However, you need to understand that the growth in the euro is observed almost at the beginning of the European session, and without a more or less certain correction is unlikely to continue. It is best to consider new long positions after falling to the support of 1.0845 and forming a false breakout on it. I recommend buying EUR/USD immediately for a rebound only from the minimum of the day in the area of 1.0811.

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To open short positions on EURUSD, you need:

Sellers tried to stop the bullish momentum in the resistance area of 1.0856 but quickly gave up. At the moment, an important task of the bears is to form a false breakout in the area of 1.0882, and an unsuccessful breakout of the triangle that formed on the 5-minute chart will be an additional signal to open short positions in the euro in the expectation of a decline to the first support level of 1.0846, where I recommend fixing the profits. We can only talk about a market reversal after the bears breakthrough below the level of 1.0846 and test the minimum of 1.0811 again. Under the scenario of further growth of the pair, which can be supported by good indicators on the US consumer confidence index (provided that it turns out to be better than economists' forecasts), you can consider selling only after updating the maximum of 1.0908 or sell the euro on a rebound from a larger resistance of 1.0937.

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Signals of indicators:

Moving averages

Trading is conducted above the 30 and 50 daily moving averages, which indicates the advantage of euro buyers.

Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differ from the general definition of the classic daily moving averages on the daily chart D1.

Bollinger Bands

In the case of a downward correction, the average border of the indicator in the area of 1.0835 will provide support, and you can buy the euro immediately on the rebound from the lower border in the area of 1.0787.

Description of indicators

  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
  • MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
  • Bollinger Bands (Bollinger Bands). Period 20
The material has been provided by InstaForex Company - www.instaforex.com

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