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EUR / USD pair: plan for the US session on December 10. The market is waiting

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

Demand for the euro remains, however, it is necessary to get back to the resistance level of 1.1434 to continue the upward trend, which will lead to a further wave of growth with a test of highs around 1.1471 and 1.1498, where I recommend taking profits. In the event of a decline in the euro in the second half of the day, it is best to return to long positions on a false breakdown from a low of 1.1398 or to a rebound from a larger support of 1.1366, where you can build the lower limit of the upward channel.

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

An unsuccessful fixation above the resistance of 1.1434 in the second half of the day will be a signal to sell the euro with the main goal of a breakdown and consolidation below the support of 1.1398, which will lead to a larger sale with a test of 1.1366 minimum, where I recommend to take profits. Important fundamental statistics are not expected to be released in the afternoon. Thus, if the euro rises above resistance 1.1434, short positions can return to the rebound from a maximum of 1.1471.

Indicator signals:

Moving averages

Trade is conducted above the 30 and 50-day moving averages, which indicates continued growth of the euro.

Bollinger bands

The upward trend may be limited by the upper limit of the Bollinger Bands indicator in the area of 1.1445, from where you can see sales of the euro immediately on the rebound.

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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