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11.06.202014:59 Forex Analysis & Reviews: EUR/USD: plan for the American session on June 11

Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

To open long positions on EURUSD, you need:

In the first half of the day, I paid attention to buying from the support level of 1.1325, and also recommended opening short positions after updating the maximum of 1.1403. If you look at the 5-minute chart, in the first half of the day, the bulls got a great chance to recover from the level of 1.1325 and actively returned to the market at the first test of this area. However, it was not possible to break above the resistance of 1.1403, from which the euro sellers returned to the market again. As for the current technical picture, nothing has changed. Bulls still need to break above the resistance of 1.1403, fixing on which will strengthen the upward momentum and lead to an update of the highs of 1.1462 and 1.1514, where I recommend fixing the profits. An equally important task for euro buyers is to protect the support of 1.1325, which they managed in the first half of the day. Only the formation of a false breakout at this level will be a signal to open long positions. Otherwise, given the fact that the bull market is gradually coming to an end, it is best to expect purchases to rebound from a large low of 1.1244 in anticipation of correction of 30-40 points at the end of the day.

Exchange Rates 11.06.2020 analysis

To open short positions on EURUSD, you need:

As for short positions in the euro, the bears did a great job in the first half of the day, keeping the pair above 1.1403. In the North American session, sellers need to break through to the level of 1.1325, which will be possible only after good fundamental statistics on the American economy. Only fixing below the support of 1.1325 will increase the pressure on EUR/USD and lead to a return to the lower border of the 1.1244 side channel, where I recommend fixing the profits. The entire upward trend formed on May 25 will depend on the breakdown of this level. If the demand for the euro returns, and this will happen only if the resistance of 1.1403 breaks, it is best to count on short positions after updating the highs of 1.1462 and 1.1514 with the aim of a downward correction of 30-40 points within the day.

Exchange Rates 11.06.2020 analysis

Signals of indicators:

Moving averages

Trading is conducted in the area of 30 and 50 daily moving averages, which indicates an active confrontation between buyers and sellers.

Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differ from the general definition of the classic daily moving averages on the daily chart D1.

Bollinger Bands

A break in the lower border of the indicator at 1.1340 may increase pressure on the euro. Growth will be limited by the upper level of the indicator around 1.1403.

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
Miroslaw Bawulski
Analytical expert of InstaForex
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