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30.03.202006:27 Forex Analysis & Reviews: EUR/USD: plan for the European session on March 30. What levels of optimism will be enough for euro buyers? Bears are counting on a return of 1.1055 support

Tyto informace jsou v rámci marketingové komunikace poskytovány retailovým i profesionálním klientům. Neobsahují investiční rady a doporučení, nabídky k nebo žádosti o účast na jakékoli transakci nebo strategii spojené s finančními nástroji a neměly by tak být chápány. Předchozí výkon není zárukou ani predikcí budoucího výkonu. Instant Trading EU Ltd. neručí a nezodpovídá za přesnost nebo úplnost poskytnutých informací, ani za ztrátu vyplývající z jakékoliv investice na základě analýzy, předpovědi nebo jiných informací poskytnutých zaměstnancem společnosti nebo jiným způsobem. Úplné znění Odmítnutí odpovědnosti je k dispozici zde.

To open long positions on EURUSD, you need:

The euro's growth to the next high of 1.1145 last Friday, from which I advised to open short positions, was formed after news came out that the credit rating of the eurozone remained unchanged at the level of AAA. Purchases from 1.0957 support, which are clearly visible on the 5-minute chart, also brought a fairly good profit. I paid attention to them in my Friday review. At the moment, the bulls should focus on the support of 1.1054, because the formation of a false breakout there will be a signal to open long positions in the expectation of a return to the resistance of 1.1145 and its breakout. Consolidating above this level will lead EUR/USD to new highs in the area of 1.1231 and 1.1295, where I recommend taking profits. However, in the first half of the day, we expect data on the indicator of consumer confidence in the eurozone and German inflation, from which we can expect nothing good. For the scenario of the euro's decline below the support 1.1054, for long positions it is best to return to test the low of 1.0957, or just on the rebound from support 1.0880, the test which will mean a break in the upward correction.

Exchange Rates 30.03.2020 analysis

To open short positions on EURUSD you need:

Sellers coped with the task and did not let the euro go above the resistance of 1.1145, and the repeated test in the Asian session was a confirmation of the presence of bears at this level. At the moment, the task is to return and consolidate below the support of 1.1054, which will raise pressure on the euro and lead to a repeat test of the low of 1.0957, where I recommend taking profits. Weak German inflation data will help in this. In the growth scenario, contrary to common sense, which the market likes, above the resistance of 1.1145, short positions can be returned to the rebound from the resistance of 1.1231, or after the test of the high of 1.1295.

Exchange Rates 30.03.2020 analysis

Signals of indicators:

Moving averages

Trading is conducted above 30 and 50 moving average, which indicates a continuation of the upward trend.

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

Bollinger bands

Growth will be limited by the upper boundary of the indicator in the region of 1.1170, and in case the euro falls, the lower level of the indicator in the 1.0975 area will provide support.

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
Miroslaw Bawulski
analytik InstaForexu
© 2007–2024

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