EUR / USD: plan for the European session on February 26. The bulls are preparing a breakthrough resistance of 1.1365

To open long positions on EURUSD you need:

The technical picture of the EUR / USD pair remained unchanged compared with yesterday's forecast, except for the fact that the pair returned to the upper boundary of the side channel. Breaking and consolidation above resistance 1.1367 are still required, which will lead to a larger upward correction already in the maximum area of 1.1394 and 1.1432, where I recommend fixing the profits. In the event of a EUR / USD decline, long positions can be opened on the condition that a false breakdown is formed in the support area of 1.1324, or on a rebound from the minimum of 1.1279.

To open short positions on EURUSD you need:

The lack of important fundamental statistics helps the euro. However, sellers are still counting on the formation of a false breakdown in the resistance area of 1.1367, which will lead to a downward correction to the support area of 1.1324, where I recommend fixing the profits. The main goal is to break through the lower border of the side channel and reduce to the minimum area of 1.1279. Under the option of a further upward correction and a break of 1.1367, the euro can be sold for a rebound from the maximum of 1.1394.

Indicator signals:

Moving Averages

Trade is conducted in the area of 30-day and 50-day moving averages, which again indicates market uncertainty.

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

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