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18.03.201914:32 Forex Analysis & Reviews: EUR / USD plan for the US session on March 18. The euro is slowly but surely following the trend

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:

Fixation in the higher resistance of 1.1341 has allowed euro buyers to continue their upward trend, which was supported by the good data on the balance of foreign trade in the eurozone. In the second half of the day, the demand for the euro will continue while the trade will be conducted above the level of 1.1341, which may lead to the renewal of the highs around 1.1372 and 1.1407, where I recommend taking profits. In case that the price returns to the level of 1.1341, it is best to rely on purchases on a rebound from the large support level of 1.1301 formed last week.

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

Bears are not yet visible in the market and for opening short positions in the second half of the day, the more optimal level will be the resistance of 1.1372, provided that a false breakdown is formed on it. You can sell euros for a rebound from a maximum of 1.1407. The main task of the bears will be to return to the level of 1.1341, which will lead to the closure of a number of long positions and a downward trend in EUR/USD with testing of the minimum at 1.1301, where I recommend taking profits.

More in the video forecast for March 18

Indicator signals:

Moving averages

The price remains above the 30- and 50-moving average, which indicates the bullish nature of the market.

Bollinger bands

In the event of a euro decline in the afternoon, support may be provided by the average Bollinger Bands indicator in the area of 1.1335 and the lower limit in the 1.1310 area.

Exchange Rates 18.03.2019 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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