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EUR / USD pair: plan for the American session on January 23. Lack of news leaves the euro in the side channel

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

The situation did not change compared to the morning forecast. The first signal to buy EUR / USD will be the breakdown and consolidation above the resistance level of 1.1376, which will lead to a stronger upward correction in the area of the maximum of 1.1411 and 1.1451, where I recommend taking profits. The formation of a false breakdown in the support area of 1.1339 will also be the reason for buying the European currency. Otherwise, it is best to open long positions to rebound from this year's low around 1.1307.

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

Only the formation of a false breakdown in the support area of 1.1376 will be the first signal to open short positions with the main goal of returning and fixing below yesterday's minimum in the area of 1.1339, which will lead to a larger sale of EUR / USD with an exit to the level of 1.1307, where I recommend to take profits. In the case of the euro growth scenario, it is best to return to short positions to rebound from a maximum of 1.1411.

More in the video forecast for January 23

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-medium moving, which indicates the lateral nature of the market.

Bollinger bands

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

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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