EUR/USD: plan for the European session on 14 January. A correction in the euro may increase

To open long positions on EURUSD you need:

Buyers did not cope with the task and failed to break through important resistance levels last Friday. Currently, it is best to consider long positions after updating the support level of 1.1449 with the formation of a false breakdown on it or to rebound from a larger area 1.1428 and 1.1407. To change the situation, a breakthrough and fixation above a resistance of 1.1490 is also required, which will lead to a test of a high of 1.1531, where I recommend taking profits.

To open short positions on EURUSD you need:

The bears will continue to put pressure on the euro, and the main task will be the breakthrough of support 1.1449, which will lead to a larger downward correction in the area 1.1428 and 1.1407, where the lower limit of the downward channel passes. In case of EUR/USD growth in the first half of the day, you can look at short positions on the false breakdown of the level of 1.1490, from where large sellers will return to the market. In the absence of a rapid decline from the above range, you can sell for a rebound from a high of 1.1531.

Indicator signals:

Moving averages

Trade has moved under the 30-day and 50-day moving averages, which indicates that the downward trend in the market continues.

Bollinger bands

The decline of the euro is limited by the lower limit of the Bollinger Bands indicator, which is located in the area of 1.1435. In case the euro grows in the first half of the day, you can sell on a rebound from the upper limit in the area of 1.510.

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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
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