15.10.201916:42 Forex-elemzések és áttekintések: EUR/USD: plan for the American session on October 15th. The deterioration of sentiment in the business environment of the eurozone hit the euro positions. New sellers target – 1.0975

To open long positions on EURUSD, you need:

Released in the morning, reports on the mood in the business environment of Germany and the eurozone harmed the EUR/USD pair. The deterioration in sentiment is further evidence of the weakness of the European economy. Against this background, the bulls missed fairly important support of 1.1005, and their main task for the second half of the day is to return this range. Only after that, it will be possible to speak about the repeated storm of a maximum of 1.1040 with the update of the larger resistance of 1.1075, where I recommend fixing the profit. If the pressure on the euro continues, it is best to consider new purchases on the rebound from the lows of 1.0975 and 1.0943.

To open short positions on EURUSD, you need:

Sellers need to protect the resistance of 1.1008 in the second half of the day, and the formation of a false breakdown on it will be a direct signal to open short positions, which can lead to the renewal of the next lows in the area of 1.0975 and 1.0943, where I recommend taking the profits. If the demand for the euro returns in the afternoon, for example, after the release of good news on Brexit, it is best to consider short positions after the update of a large weekly resistance of 1.1040 or sell EUR/USD immediately on the rebound from the maximum of 1.1075.

Indicator signals:

Moving Averages

Trading is below the 30 and 50 moving averages, which indicates a possible decline in the euro.

Bollinger Bands

In the scenario of growth of the euro, the upper limit of the indicator in the area of 1.1050 will act as a resistance.

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