10.12.201913:26 Forex Analysis & Reviews: EUR/USD: plan for the US session on December 10. The next data on the eurozone force bulls to buy the euro, but this is not enough for growth

To open long positions on EURUSD, you need:

In the first half of the day, there was a good report on the index of sentiment in the business environment of the eurozone, which grew and was much higher than economists' forecasts, which supported the European currency, which still cannot break above the resistance of 1.1076. The task of buyers for the second half of the day is still the same return to the resistance level of 1.1076 since it depends on it whether the upward movement will continue or not. If the bulls fail to do this in the afternoon, and the calculation will be made on weak macroeconomic statistics on the American economy, then it is best to postpone purchases until a false breakdown is formed in the support area of 1.1053, but buying EUR/USD for a rebound is better only from a minimum of 1.1030. The breakout and consolidation of the euro above the resistance of 1.1076 will lead to a larger upward correction and the return of the pair to the highs of 1.1097 and 1.1120, where I recommend taking the profits.

To open short positions on EURUSD, you need:

Bears formed a false breakout in the resistance area of 1.1076, but this did not lead to a major sell-off of the euro. Perhaps, as yesterday, sellers are waiting for statistics on the American economy and will act based on the new reports. While trading is below the range of 1.1076, you can expect a further decline in EUR/USD to the support area of 1.1053. However, only its breakdown will increase the pressure on the pair and allow sellers to reach the lows of 1.1030 and 1.1004, where I recommend fixing the profits. If the bears miss the level of 1.1076 in the second half of the day, and this will happen only if the weak fundamental statistics for the United States are released, it is best to open short positions only after the resistance update of 1.1097 or sell the euro from there immediately to rebound from the maximum of 1.1114.

Indicator signals:

Moving Averages

Trading is conducted around 30 and 50 moving averages, which indicates the persistence of market uncertainty.

Bollinger Bands

In the case of a downward correction in the second half of the day, the lower border of the indicator around 1.1053 will provide support.

Description of indicators

• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
• MACD indicator (Moving Average Convergence / Divergence - Moving Average Convergence / Divergence). Fast EMA period 12. Slow EMA period 26. SMA period 9.
• Bollinger Bands (Bollinger Bands). Period 20.