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18.01.201915:15 Forex Analysis & Reviews: EUR / USD pair: plan for the American session on January 18. There is almost no movement in the market

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:

The weak fundamental statistics did not allow euro buyers to form a larger upward correction. It is important that the bulls manage to hold the EUR/USD pair above the support level of 1.1375. However, the main task is to return to the resistance level of 1.1411, which will lead to a larger upward correction to the area of the maximum of 1.1451 and 1.1490, where I recommend to fix the profit. A Weak data on the US labor market can help the bulls with correction. In the case of a repeated decline in the support area of 1.1375 in the afternoon, it is best to return in long positions to the rebound from the minimum of 1.1343.

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

The sellers did not manage to return to the support level of 1.1375 and for the second half of the day, their main task is to break this range, which will lead to a larger EUR/USD sale with a minimum of 1.1343 and 1.1312, where I recommend to fix the profit. In case that a quick downward movement is not formed after testing the minimum of 1.1375, as it was today in the first half of the day, I recommend closing short positions since a large upward correction in euro can be formed from this level. When the growth scenario is above the resistance of 1.1411 against the background of weak fundamental statistics for the USA, it is best to consider short positions in EUR/USD pair on a rebound from 1.1451.

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-medium moving, which indicates the side character of the market.

Bollinger bands

The volatility of the Bollinger Bands indicator is low, which does not give signals to enter the market.

More in the video forecast for January 18

Exchange Rates 18.01.2019 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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