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20.05.201916:41 Forex Analysis & Reviews: EUR/USD: plan for the American session on May 20. The market is calm and unchanged

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To open long positions on EURUSD, you need:

The situation has not changed in comparison with the morning forecast. It is best to return to long positions after updating a large support level at 1.1138, from where you can expect an upward correction to return to a maximum of 1.1180, above which you can reach the resistance of 1.1205, where I recommend fixing the profits. If there is no rapid upward movement in the area of 1.1138, it is best to wait for the minimum test of 1.1112 and open long positions in EUR/USD there.

To open short positions on EURUSD, you need:

The bears have missed the support level of 1.1159, and now their main task will be to return and consolidate under it, which will keep the pair in the downward price channel and return sellers to the market who are counting on the minimum test in the area of 1.1138 and 1.1112, where I recommend fixing the profits. In the case of the euro growth in the second half of the day, it is best to look at short positions after updating the maximum of 1.1180 and 1.1205.

Indicator signals:

Moving Averages

Trading is conducted in the area of 30 and 50 moving averages, which indicates a slowdown in the downward trend.

Bollinger Bands

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

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

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