02.10.201816:32 Forex Analysis & Reviews: EUR / USD: plan for the European session on October 2. The fall of the euro continues

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

After yesterday's unsuccessful correction, the pressure on the euro resumed. To date, I recommend considering purchases against the trend only after a new low near 1.1528 or for a rebound from the support level of 1.1495. The main task of buyers in the first half of the day will be the formation of a false breakdown or a return to the support level of 1.1556, which will lead to a larger upward correction with the update of the resistance levels of 1.1580 and 1.1609, where I recommend fixing the profit. The euro can be supported by today's data on producer prices in the eurozone.

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

The breakthrough of the support level of 1.1556 will lead to a further sale of EUR / USD on the trend with access to the minimum in the region of 1.1528 and 1.1495, where I recommend fixing the profit. If the euro rises in the first half of the day, short positions can be returned to the false breakdown from the level of 1.1580 or immediately to the rebound from the resistance of 1.1609. Data on producer prices can lead to a surge in volatility in the market and only exacerbate the current position of the euro against the US dollar.

Indicator signals:

Moving Averages

The 30-day moving average and 50-day average are directed down, which indicates a continued decline in the euro in the short term.

Bollinger bands

The euro can be supported by the lower limit of the Bollinger Bands indicator, which is located in the area of 1.1548. However, its breakdown will lead to a new wave of decline.

Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20