19.02.201915:10 Forex Analysis & Reviews: EUR / USD plan for the US session on February 19. Eurozone's weak data put pressure again on the euro

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

Weak data on the current positive balance of the account of the balance of payments in the eurozone, as well as, the decrease in the current conditions index in Germany led to a fall in the euro in the first half of the day. Now, trading is conducted below the support level of 1.1288 and customers to return on it. Only this will help to expect a correction to the area of yesterday's high at 1.1332. In case of further EUR/USD decline, it is best to consider new long positions after updating the lower limit of the upward price channel, which now coincides with the support level of 1.1262.

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

Sellers are required to keep the pair below the resistance of 1.1288, which will only dampen the pressure on the euro by the second half of the day and lead to a sale to the area of larger support of 1.1262, where the upper limit of the upward price channel passes. A breakthrough of this area will completely cancel out the plan for the growth of EUR/USD pair and will allow to update the lower limit in the area of 1.1235, where I recommend to take profits. In the case of the euro rise in the second half of the day, it is safe to rely on short positions to rebound from the resistance of 1.1332.

More in the video forecast for February 19

Indicator signals:

Moving averages

Trade again returned under the 30- and 50-moving average, which indicates a possible continued pressure on the euro.

Bollinger bands

In the case of an upward correction, growth will be limited by the upper limit of the Bollinger Bands indicator in the area of 1.1325.

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