20.08.201915:03 Forex Analysis & Reviews: EUR / USD plan for the American session on August 20: German data did not help euro buyers and the goal remains the level of 1.1095

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

German producer prices rose slightly but were not much of a help for the European currency in the morning. However, in the afternoon, volatility will remain quite low due to the lack of important statistics. From a technical point of view, the situation has not changed much. Exit and consolidation above the resistance level of 1.1095 will strengthen the demand for the euro and will lead to the renewal of a larger maximum at 1.1121, where I recommend taking profits. However, the main target of the bulls will be the level of 1.1153, which will allow us to build a new uptrend in the euro. In the scenario of the EUR/USD decline in the afternoon, it is best to return to long positions to rebound from a minimum of 1.1059.

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

Bears need to form a false breakdown in the resistance area of 1.1095, which will only strengthen the downtrend and lead to an update of the low of the last week, which was not done yesterday. However, the farther target of the sellers will be the support levels of 1.1028 and 1.0990, where I recommend taking profits. The lack of important news may allow the EUR/USD pair to get above the resistance of 1.1095 in the afternoon. In this scenario, it is best to open short positions on a rebound from the highs of 1.1121 and 1.1153.

Signals of indicators:

Moving averages

Trade is conducted in the region of 30 and 50 moving average, which indicates the lateral nature of the market.

Bollinger bands

Volatility is reduced, which does not give signals on entering 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