MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

EUR/USD: plan for the European session on February 10. Bears are trying to put pressure on the euro, but it's getting harder

To open long positions on EURUSD, you need:

Good Friday data on the labor market in the United States did not lead to a major collapse of the euro, and only after an active confrontation on the background of closing profits by major players, the pair went down to the area of 1.0943, which now represents a very important level of support. Buyers need to achieve the formation of a false breakdown in this area, which will be a signal to open long positions in the expectation of a breakout and consolidation above the resistance of 1.0975. Only such a scenario will allow you to see a larger upward correction in the area of highs of 1.1002 and 1.1022, where I recommend fixing the profits. If we reach the level of 1.0943 without volume, it will probably break through. In this case, it is best to postpone new long positions until the test of a larger minimum of 1.0905.

To open short positions on EURUSD, you need:

Sellers will wait for the next weak data on industrial production in the eurozone and continue to put pressure on the euro. However, opening short positions on the breakout of the lows is quite dangerous. A better option today for sales in the first half of the day will be the formation of a false breakdown in the resistance area of 1.0975, which will be the first signal to open short positions with the main goal of returning to the minimum of 1.0943, on which the further downward movement depends. A breakout and consolidation under this range will quickly push EUR/USD down to the lows of 1.0905 and 1.0887, where I recommend fixing the profit. If there is no activity on the part of sellers in the resistance area of 1.0975, then it is best to return to short positions on the rebound from the maximum of 1.1002.

Signals of indicators:

Moving averages

Trading is conducted below the 30 and 50 moving averages, which indicates the predominance of sellers in the market.

Bollinger Bands

In the case of growth in the first half of the day, the upper limit of the indicator 1.0968 will act as a resistance. Support will be provided by the lower border that coincides with the level of 1.0940.

analytics5e40fc9a7df9b.png

Description of indicators

  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
  • MACD indicator (Moving Average Convergence / Divergence - Moving Average Convergence / Divergence) Fast EMA Period 12. Slow EMA Period 26. SMA Period 9
  • Bollinger Bands (Bollinger Bands). Period 20
The material has been provided by InstaForex Company - www.instaforex.com