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14.11.201815:00 Forex Analysis & Reviews: EUR / USD pair: plan for the US session on November 14. Euro declined on weak eurozone GDP data

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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

Weak data on the eurozone's growth of GDP in the 3rd quarter of this year led to a slight downward correction in EUR / USD in the first half of the day. At the moment, it is possible to count on long positions after the formation of a false breakdown in the support area of 1.1258 or on a rebound from a minimum of 1.1226. The main task of the buyers is still a breakthrough and consolidation above the resistance of 1.1300, which will allow to form the lower limit of the new ascending channel and update the highs around 1.1357, where I recommend taking profits.

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

The bears managed to keep the pair below the resistance level of 1.1300, which led to a small downward trend in the first half of the day, which has not yet received a continuation. The main objective remains the breakdown of the support level in the area of 1.1258, which will already collapse the EUR/USD pair in the area of a larger level of 1.1226, where I recommend taking profits. If the euro rises in the second half of the day above the resistance of 1.1300, short positions can be returned to rebound from the maximum of 1.1357.

Indicator signals:

Moving averages

Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.

Bollinger bands

Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.

Exchange Rates 14.11.2018 analysis

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

Miroslaw Bawulski
Analytical expert of InstaForex
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