To open long positions on EUR / USD pair, you need:
The weak fundamental statistics did not allow euro buyers to form a larger upward correction. It is important that the bulls manage to hold the EUR/USD pair above the support level of 1.1375. However, the main task is to return to the resistance level of 1.1411, which will lead to a larger upward correction to the area of the maximum of 1.1451 and 1.1490, where I recommend to fix the profit. A Weak data on the US labor market can help the bulls with correction. In the case of a repeated decline in the support area of 1.1375 in the afternoon, it is best to return in long positions to the rebound from the minimum of 1.1343.
To open short positions on EUR / USD pair, you need:
The sellers did not manage to return to the support level of 1.1375 and for the second half of the day, their main task is to break this range, which will lead to a larger EUR/USD sale with a minimum of 1.1343 and 1.1312, where I recommend to fix the profit. In case that a quick downward movement is not formed after testing the minimum of 1.1375, as it was today in the first half of the day, I recommend closing short positions since a large upward correction in euro can be formed from this level. When the growth scenario is above the resistance of 1.1411 against the background of weak fundamental statistics for the USA, it is best to consider short positions in EUR/USD pair on a rebound from 1.1451.
Trade is conducted in the area of 30- and 50-medium moving, which indicates the side character of the market.
The volatility of the Bollinger Bands indicator is low, which does not give signals to enter the market.
More in the video forecast for January 18
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
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