11.12.201912:49 Forex Analysis & Reviews: EUR/USD: plan for the US session on December 11. Focus on important US inflation data and interest rates from the Fed

To open long positions on EURUSD, you need:

In the first half of the day, nothing changed in the EUR/USD pair. The bulls did not even attempt to rise above the resistance of 1.1097, which led to a small downward correction against the background of low market volatility. The emphasis in the second half of the day will be shifted to the important data on US inflation and interest rates from the Federal Reserve System. Only a breakthrough of 1.1097 will provide a larger upward trend in the area of highs of 1.1116 and 1.135, where I recommend taking the profit. In the scenario of the EUR/USD decline in the second half of the day, the formation of a false breakout in the support area of 1.1076 will be a signal to open long positions. Otherwise, it is best to buy the euro on the rebound from the lower border of the wide side channel around 1.1053.

To open short positions on EURUSD, you need:

In the absence of important fundamental statistics, the bears did not let the pair above the resistance level of 1.1097, which led to a slight decrease in EUR/USD in the first half of the day. However, it will be possible to talk about the return of major players to the market only after the release of inflation data in the US. If the result is better than economists' forecasts, sellers will quickly throw the euro into the support area of 1.1076, and consolidation below this range will lead to a larger sell-off in the area of the minimum of 1.1053, where I recommend taking the profits, as it will be possible to break below this area only after the publication of the Federal Reserve's decision on interest rates, which is expected in the afternoon. If the bears still miss the resistance of 1.1097 in the second half of the day, then it will be possible to talk about short positions only after the update of the maximum of 1.1116, and sell immediately on the rebound is best from the level of 1.1135.

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, a breakthrough of the lower border of the indicator around 1.1076 will increase the pressure on the euro.

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