16.10.201812:45 Forex Analysis & Reviews: EUR / USD: plan for the European session on October 15. The euro buyers urgently need to return to the market

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

The expected downward correction occurred at the end of last week, and now it is best to pay attention to euro purchases after the breakdown and consolidation above the resistance level of 1.1570, on which the average moving, restricting growth is located. Only a breakthrough of 1.1570 will allow us to count on re-growth of EUR / USD with the update of the highs in the area of 1.1609 and exit to 1.1648, where I recommend fixing the profits. In the event of a decline in the euro under the support level of 1.1537, it is best to return to long positions to rebound from the support level of 1.1490. The formation of a false breakdown at 1.1537 in the morning will also be a good signal to buy euros.

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

Sellers will try to return to the support level of 1.1537, which will be another signal to sell the euro in order to update the area of 1.1490, where I recommend fixing the profits. In the case of EUR / USD growth in the first half of the day, short positions can be returned after an unsuccessful consolidation and decline below the resistance level of 1.1570 or to rebound from last week's high around 1.1609.

Indicator signals:

Moving Averages

The trade has moved below the moving average, and the 30-day breaks down from the 50-day top, which is an additional bearish signal.

Bollinger bands

A break of the lower limit of the Bollinger Bands indicator around 1.1540 will be a direct signal to open short positions in euros. The upper limit is just in the area of large resistance 1.1570.

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