empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

12.10.201800:44 Forex Analysis & Reviews: EUR/USD: plan for the European session on October 11. Important report from the ECB on monetary policy

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 for EURUSD, it is required:

Buyers of the euro are gradually fulfilling their goals. Today, the main task for the first half of the day will be to maintain the support level of 1.1541, and the formation of a false breakout on it, as it was yesterday with the support at 1.1483, will be a direct signal to buy the euro with the continuation of growth in the area of new highs of 1.1588 and 1.1636, where I recommend to take profit. In case the EUR/USD declines below the support level of 1.1541, it is best to return long positions to a rebound from 1.1483. It is important to pay attention to the report from the ECB on monetary policy, which may benefit the euro.

To open short positions for EURUSD, it is required:

Sellers today will need to form a false breakout and return to the resistance level of 1.1588, after which the pressure on the euro may increase, which will lead to a breakdown of support at 1.1541 and a sharper selling of the EUR/USD with an exit to yesterday's low of 1.1483, where I recommend taking profit. If traders find positive points in the ECB report, most likely, the euro will continue to grow. In this case, it is possible to open short positions only on a rebound from the high of 1.1636.

Indicator signals:

Moving averages

As long as trade is above the 30-day and 50-day average, demand for the euro will continue. Support, in the event of a decline, will have a 30-day average around 1.1530.

Bollinger Bands

The average border of the Bollinger Bands indicator in the area of 1.1540 will support the euro in case of a decline, and the break of the upper border in the area of 1.1575 will signal the opening of new long positions.

Exchange Rates 12.10.2018 analysis

Indicator description

  • Moving Average (average sliding) 50 days - yellow
  • Moving Average (average sliding) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
Miroslaw Bawulski
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off