12.03.201916:13 Forex Analysis & Reviews: EUR / USD: plan for the US session on March 12. Bulls still resist

To open long positions on EURUSD you need:

Weak inflation in the US helped the European currency to remain at the levels reached in the morning. At the moment, bulls need a breakdown with consolidation above the resistance of 1.1288, which will increase demand and lead to a test of new highs 1.1317 and 1.1343, with a complete breakdown of the downward technetium formed last week. In the case of EUR / USD decline in the second half of the day, it is best to look at long positions after the support test of 1.1252 or at a rebound from a minimum of 1.1225.

To open short positions on EURUSD you need:

Euro sellers made the expected pressure attempt, but weak data on the American economy crossed their plans. At the moment, bears urgently need a false breakdown in the resistance area of 1.1288, which will be a signal to open short positions in order to reduce in the area of a minimum of 1.1252, where I recommend fixing the profits. With a scenario of further growth of the euro above 1.1288, short positions can be returned to the rebound from resistance 1.1317.

Indicator signals:

Moving Averages

Trade remains above the 30-day and 50-moving averages, which indicates the lateral nature of the market, with the advantage of buyers.

Bollinger bands

A break of the middle border of the Bollinger Bands indicator in the area of 1.1255 will lead to a decrease in EUR / USD.

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