EUR / USD pair for September 11. Results of the day. Multidirectional bidding as a consequence of the lack of new important

4-hour timeframe

jrNXKHculmXnC5GAn9hyYmLr6FwlOM0Nom8Kpnm7

Amplitude of the last 5 days (high-low): 92p - 90p - 53p - 98p - 90p.

The average amplitude for the last 5 days: 85p (74p).

The EUR / USD currency pair traded without a definite trend on Tuesday, September 11. At the beginning of the day, it grew followed by a decline. In general, the downward trend in the instrument remains, but now it looks very unconvincing. The markets are clearly hiding and waiting for new data from the White House. Those who can receive these data are already plenty. At a minimum, this is a trade war (in the near future the States can introduce a new duty package against China) and a scandal involving a conspiracy against Trump. But since there is no news yet, there are no strong trend movements either. Of the macroeconomic reports, there is also nothing to highlight today. Thus, from a purely technical point of view, the downward movement may continue, but it is necessary to closely and accurately monitor possible corrections. The correction turns in the coming days, if there is no new important information, there may be a lot, up to the transition of the pair to flat. Bollinger bands already indirectly indicate a lateral movement, and the "dead cross" is extremely unconvincing. In general, at this stage, the US dollar needs fundamental support for further growth, but whether it will act, now this is a big question. It can do, but will the markets now buy dollars on a rush after the information about a whole group of politicians dissatisfied with Trump's management surfaced. Now, the big question is whether she will act on it.

Trading recommendations:

For the EUR / USD pair, the price was fixed below the critical line, however, the downward movement is currently sluggish. Formally, the goal is the first level of support at 1.1502 and it can be bargained off before the MACD indicator turns up, which indicates a new round of correction.

Buy-positions are recommended to be considered only after overcoming the Kijun-sen line and the Ichimoku cloud. It should also be taken into account now that there is a rather high probability of flat, especially if there is no new important information from the White House.

In addition to the technical picture, one should also take into account the fundamental data and the time of their release.

Explanations to the illustration:

Ichimoku Indicator:

Tenkan-sen is a red line.

Kijun-sen is a blue line.

Senkou Span A is a light brown dotted line.

Senkou Span B - a light purple dotted line.

Chikou Span is a green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and histogram with white bars in the indicator window.The material has been provided by InstaForex Company - www.instaforex.com