EUR / USD pair: plan for the European session on November 30. Fed Chairman can slow down with rising interest rates in the

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

The demand for the euro may continue at the end of the month, but one can hardly expect a strong strengthening of the pair. Everything will depend on the data on inflation in the euro area, which is expected in the morning. The breakthrough of 1.1400 will be a signal to buy euros in order to reach a new weekly maximum in the area of 1.1433 and 1.1471, where I recommend taking profits. In the case of EUR / USD decline in the first half of the day, purchases can be viewed on a false breakdown from the support of 1.1365 or a rebound from 1.1317.

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

Only the formation of a false breakdown and a return below the level of 1.1400 may call into question the continuation of the upward trend in the euro, which will be kind of a sell signal in order to update support for 1.1365. However, the main goal of bears remains to be the level of 1.1317. The fall to which can only occur after a breakout and consolidation below the support of 1.1365. If the EUR / USD pair rises in the first half of the day above the resistance of 1.1400, I recommend returning to short positions after updating the highs around 1.1433 and 1.1471.

Indicator signals:

Moving averages

Trade is conducted above the 30- and 50-day moving averages, which indicates the continuation of the downtrend formation. In the case of a downward correction of the euro, the 50-day average will provide good support, a test of which allows buying immediately the euro to rebound.

Bollinger bands

The upward trend in EUR / USD may be limited by the upper border of the Bollinger Bands indicator in the 1.1410 area. In the event of a decline in the euro in the first half of the day, support will be provided by the bottom line of the indicator in the area of 1.1365, from where you can buy immediately to rebound.

More details about the forecast can be found in the video review.

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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

The material has been provided by InstaForex Company - www.instaforex.com