EUR / USD: plan for the US session on January 16. Data on inflation in the euro zone supported the euro

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

Despite the report on inflation in the euro area, which coincided with the forecasts of economists, euro buyers managed to hold above the support level of 1.1375, which led to a resumption of demand in EUR / USD. The main task of buyers is to return to the resistance level of 1.1411, which will lead to a larger upward correction in the region of the maximum of 1.1451 and 1.1490, where I recommend fixing the profits. Weak data on the US labor market can help the bulls with correction. In the case of a repeated decline in the support area of 1.1375 in the afternoon, long positions are best returned to the rebound from the minimum of 1.1343.

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

The sellers did not manage to return to the support level of 1.1375, and for the second half of the day, their main task is to break through this range, which will lead to a larger EUR / USD sale with a minimum of 1.1343 and 1.1312, where I recommend fixing the profits. If, after the test of a minimum of 1.1375, a quick downward movement is not formed, as it was today in the first half of the day, I recommend closing short positions, since a large upward correction in euro can be formed from this level. When the growth scenario is above the resistance of 1.1411, against the background of weak fundamental statistics for the USA, it is best to consider short positions in EUR / USD on a rebound from 1.1451.

Indicator signals:

Moving Averages

Trade is conducted below the 30-day and 50-moving averages, which indicates that the downward trend in the market continues.

Bollinger bands

The volatility of the Bollinger Bands indicator is low, which does not give signals to enter the market.


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

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