EUR / USD pair: plan for the US session on January 11. Euro buyers do not want to give up

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

In the afternoon, the entire calculation will be on the inflation data in the United States. They will only be able to lead a change in the situation on the market, which is lateral in nature. Buyers are required to return to the resistance level of 1.1538, which the further continuation of the uptrend directly depends, and updating the highs of 1.1573 and 1.1605, where I recommend taking profits. In the event of a decline in the euro after inflation data, purchases can return on a false breakdown from 1.1498 or on a rebound from a minimum of 1.1465.

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

European currency sellers are required to form a false breakdown at the resistance level of 1.1538, which will lead to the formation of the upper limit of the new downward channel and will push the EUR / USD to the area of 1.1498 and 1.1465 lows, where I recommend taking profits. However, a larger decline will depend on data on US inflation, which is expected to happen in the afternoon.In case of growth above the resistance level of 1.1538, short positions in euro can return to the rebound from the highs of 1.1573 and 1.1605.

Indicator signals:

Moving averages

Trade is conducted in the 30- and 50-day average, indicating a market uncertainty.

Bollinger bands

The upper limit of the Bollinger Bands indicator around 1.1538 limits the upward potential of the euro, but breaking it down will lead to a sharp increase in the euro. The lower boundary of the indicator in the area 1.1490 will act as a support, from which you can see long positions.

More in the video forecast for January 11

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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