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FX.co ★ EUR / USD: plan for the US session on December 20. Euro buyers showed strength

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Forex Analysis:::2018-12-20T12:43:34

EUR / USD: plan for the US session on December 20. Euro buyers showed strength

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

As expected, yesterday's Fed decision had a negative impact on the US dollar, which led to the continuation of the upward trend in the European currency. All resistance levels that were scheduled for the first half of the day in the morning forecast, failed to keep buyers. In the afternoon, there may be a downward correction in EUR / USD, so a more optimal area for opening long positions will be the range of 1.1450. Open long positions in euros can also rebound from the support of 1.1426. The main task for the second half of the day will be the repeated resistance test of 1.1480, a breakthrough of which will open a direct path to the highs of 1.1515 and 1.1548.

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

The bears failed to oppose the bulls. Only the formation of a false breakdown at the resistance level of 1.1480 can lead to a small downward correction in the area of 1.1450 and 1.1426, where I recommend fixing the profits. If the bull trend persists in the second half of the day, it is best to return to short positions from a maximum of 1.1515 or a rebound from 1.1548.

Indicator signals:

Moving Averages

Trade is conducted above the 30-day and 50-day average, which indicates continued growth of the euro.

Bollinger bands

If the euro declines in the second half of the day, it is best to return to purchases from the average Bollinger Bands indicator around 1.1407.

The Fed has changed the economic outlook for 2019.

EUR / USD: plan for the US session on December 20. Euro buyers showed strength

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

Analyst InstaForex
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