EUR / USD: plan for the European session on November 28. The deterioration of trade relations puts pressure on the euro

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

The euro continues to decline. Yesterday, there were rumors that Trump could introduce new duties on European cars, which led to a further decline in the euro. Only the formation of a false breakdown in the area of 1.1285 will be a signal to buy EUR / USD. In the case of a further decline along the trend, it is best to consider long positions from a minimum of 1.1254 and 1.1223. The main goal of the buyers will be a breakthrough and consolidation above the resistance of 1.1327, above which the highs of 1.1374 and 1.1417 will open, where I recommend fixing the profits.

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

The breakthrough of the support level of 1.1285 will be a signal to open short positions in euro in order to update the minimum of 1.1254 and 1.1223, where I recommend fixing the profits. In the case of an upward correction in the first half of the day in the resistance area of 1.1327, you can count on short positions only when a false breakdown is formed there. Sell the euro immediately on the rebound is best after the test maximum of 1.1374. Good data on the growth of the US economy, which is expected today, can also lead to a decrease in EUR / USD in the area of monthly lows.

Indicator signals:

Moving Averages

Trade is conducted below the 30- and 50-day moving averages, which indicates the continuation of the formation of a downtrend.

Bollinger bands

If the pair declines in the first half of the day, the lower limit of the Bollinger Bands indicator around 1.1274 may provide support. The resistance will be the upper limit in the area of 1.1320, from which you can see the euro for sale.

wAm_MngowjCEiBEfJ2Q2UrQGRj4gIH7tvKF_KeeO

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