19.03.201909:12 Forex Analysis & Reviews: EUR/USD: plan for the European session on March 19. Bears can declare themselves in the near future

To open long positions on EURUSD you need:

Even though euro buyers managed to update last week's highs yesterday, the upward trend is gradually slowing down. Under such conditions, it is best to return to long positions after a false breakdown in the support area of 1.1337, but it is best to buy euros from lows around 1.1301 and 1.1278. The main task of the bulls will be a breakthrough and consolidation above the resistance of 1.1370, which will lead to an update of the high of 1.1407, where I recommend to lock in the profit. Only good data on sentiment in the business environment of Germany and the eurozone, which will be released closer to the middle of the day, will be able to maintain the upward trend in the euro.

To open short positions on EURUSD you need:

Sellers will show themselves after an upward correction to a strong resistance level of 1.1370, however, the main task will be to return and consolidate below support 1.1337, which will lead to a larger sale of EUR/USD in order to update lows around 1.1301 and 1.1278. Weak data on the euro area can help bears. In the absence of pressure on the euro in the area of a resistance of 1.1370, short positions can be returned immediately to rebound from a high of 1.1407.

Indicator signals:

Moving averages

As long as trading will be above 30-day and 50-day moving averages, the demand for euros will continue.

Bollinger bands

The euro's growth may limit the upper limit of the Bollinger Bands indicator in the area of 1.1355. In the event of a decline and breakdown of the lower boundary in the area of 1.1328, the pressure on the euro could increase.

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