empty
28.10.2019 07:05 AM
EUR/USD: plan for the European session on October 28. The euro will remain in the channel until Mario Draghi's speech. Bulls need a return of the 1.1095 level

To open long positions on EURUSD you need:

Despite Friday's weak fundamental data on the US economy, there are clearly more problems in the eurozone than it seemed before. Against this background, the euro continues to decline against the US dollar. Today, the bulls can count on a breakthrough and consolidation above the resistance level of 1.1095, and only under this condition will the pair be able to return to the high of 1.1120, where I recommend profit taking. If the data on lending in the eurozone disappoint traders, only the formation of a false breakout in the support area of 1.1066 will be a signal for purchases. Otherwise, it is best to open long positions on a rebound from a low of 1.1026. Today, the EU will vote on the postponement of the UK, which may also provide good support for EUR/USD in the short term.

To open short positions on EURUSD you need:

Euro sellers will concentrate on the evening speech of the European Central Bank President, Mario Draghi, and only on his comments will they return to the market. A false breakout in the resistance area of 1.1095 will be the first signal to open short positions in EUR/USD, the aim of which will be to support 1.1066. However, only consolidation below this level will it be possible for the bears to more confidently continue their downward correction to a low of 1.1026, where I recommend profit taking. With good news from the EU on granting a reprieve to the UK, bulls could break above the resistance of 1.1095. In this case, it is best to return to short positions on the rebound from the larger highs of 1.1120 and 1.1149.

Signals of indicators:

Moving averages

Trading is carried out below 30 and 50 moving average, which indicates the preservation of the bearish momentum.

Bollinger bands

If the euro rises in the morning, the upper boundary of the indicator in the area of 1.1110 will act as resistance. A break of the lower boundary at 1.1066 will put new pressure on the pair.

This image is no longer relevant

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
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

How to Trade the GBP/USD Currency Pair on May 1? Simple Tips and Trade Analysis for Beginners

The GBP/USD pair also showed a downward movement on Wednesday, for which there were no valid reasons. There were no noteworthy events in the UK yesterday, while the U.S. released

Paolo Greco 06:42 2025-05-01 UTC+2

How to Trade the EUR/USD Currency Pair on May 1? Simple Tips and Trade Analysis for Beginners

Wednesday's Trade Analysis: 1H chart of the EUR/USD pair. The EUR/USD currency pair continued its downward movement within the sideways channel on the hourly time frame on Wednesday —

Paolo Greco 06:40 2025-05-01 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 30th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.3376 level and planned to base market entry decisions on it. Let's take a look at the 5-minute chart and analyze

Miroslaw Bawulski 13:15 2025-04-30 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 30th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.1378 level and planned to base market entry decisions on it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 13:13 2025-04-30 UTC+2

How to Trade the GBP/USD Pair on April 30? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair corrected downward after another surge on Monday. No fundamental or macroeconomic reasons supported such movements on either

Paolo Greco 06:04 2025-04-30 UTC+2

How to Trade the EUR/USD Pair on April 30? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair continued to trade within a sideways channel, which is now visible on virtually any timeframe

Paolo Greco 06:04 2025-04-30 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 30: The Pound Has Cooled Down, But for How Long?

On Tuesday, the GBP/USD currency pair failed to continue the upward movement it had started so vigorously on Monday. It is worth recalling that there were no solid reasons

Paolo Greco 03:29 2025-04-30 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 30: The Market Remains in a State of Hibernation

The EUR/USD currency pair continued to trade within a sideways channel throughout Tuesday. The flat movement is visible in the chart above. Last week, the pair briefly broke

Paolo Greco 03:29 2025-04-30 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 29th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3421 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened. The pound

Miroslaw Bawulski 18:55 2025-04-29 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 29th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.1378 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 18:52 2025-04-29 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.