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14.02.201915:01 Forex Analysis & Reviews: EUR / USD plan for the US session on February 14. The GDP data preserves the faith of buyers in euros

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 GDP data from eurozone coincided with forecasts of economists, which allowed buyers to keep the European currency at the support level of 1.1251, where I recommended buying in my morning forecast. At the moment, the main task of the bulls will be a breakthrough and consolidation above the resistance of 1.1292, which will lead to a larger upward correction in the area of maximum 1.1329, where I recommend fixing profits. In the case of a downward movement, it is best to consider new purchases to rebound from the next weekly minimum of 1.1215.

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

The bears showed themselves in the morning, forming a false breakdown in the area of resistance 1.1292, which I paid attention in my morning review. At the moment, sellers can again declare themselves at the test level of 1.1292, however, it is best to expect a rebound from the resistance of 1.1329 for more serious short positions in the euro. The main task of the bears is to return in the afternoon to the support of 1.1251, which will lead to a larger sale of the euro to the area of 1.1215 minimum, where I recommend taking profits. However, a more powerful downward movement will depend on important news on the American economy, which are expected today.

More in the video forecast for February 14

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-medium moving, which indicates the possible formation of the lateral nature of the market.

Bollinger bands

The volatility of the Bollinger Bands indicator falls, which does not give signals to enter the market. However, a breakthrough of the upper border in the region of 1.1292 may lead to a larger growth of the European currency.

Exchange Rates 14.02.2019 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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