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25.03.201915:37 Forex Analysis & Reviews: EUR / USD plan for the US session on March 25. Data from the IFO supported the euro

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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

The euro has slightly strengthened its position against the US dollar in the morning after a good report from the IFO Institute, which published data on the German economy. At the moment, buyers need to break through the resistance level of 1.1324, where a test was observed during the first half of the day, which will lead to a further upward correction to the area of 1.1358 maximum, where I recommend taking profits. In the scenario of a return to the low of the day to support 1.1294, it is best to consider long positions in the EUR/USD pair on the area of 1.1269 or on the rebound from the support of 1.1247.

To open short positions on EURUSD you need:

Sellers coped with the task in the morning and did not allow the pair to rise above the resistance of 1.1324. While the trade is conducted below this range, the pressure on the euro will remain. However, the main goal will be to break through and consolidate below support 1.1294, which will lead to the formation of a new downward wave and update weekly lows in areas 1.1269 and 1.1247, where I recommend taking profits. If the growth scenario is higher than 1.1324 in the second half of the day, short positions in EUR / USD pair can only be considered on a rebound from the resistance of 1.1358 and 1.1388.

More in the video forecast for March 25

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-medium moving, which indicates the lateral nature of the market with the advantage of sellers.

Bollinger bands

In the event of a further decline in the euro, support will be provided by the lower limit of the Bollinger Bands indicator in the 1.1290 area. A breakthrough on the upper boundary of the indicator in the area of 1.1320 will lead to a new wave of growth of the euro.

Exchange Rates 25.03.2019 analysis

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

Miroslaw Bawulski
Analytical expert of InstaForex
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