EUR / USD plan for the US session on February 28. Negative data is not an obstacle to the growth of the euro
To open long positions on EUR / USD pair, you need:
In the morning, a number of weak fundamental data on inflation from various eurozone countries did not interfere with the resumption of the upward movement in the euro. Fixing above the resistance level of 1.1403 and testing it on the volume from top to bottom in the second half of the day will be good signals for building up long positions in euro in consideration of the continuous upward correction to the area of maximum 1.1432 and 1.1459, where I recommend taking profits. In the case of EUR/USD decline under the support level of 1.1403, it is best to return to the euro from the support of 1.1374 for euro purchases.
To open short positions on EUR / USD pair, you need:
Only a weak report on inflation in Germany and good data on the US economy can influence the pair to return to the EUR/USD pair to the level of 1.1403, which will lead to the closure of long positions in the euro and a decrease to the minimum area of 1.1374 and 1.1348, where I recommend taking profits. In case of further growth of the pair amid poor statistics on US GDP for the 4th quarter of 2018, it is best to consider short positions after updating the resistance of 1.1432 or to rebound from a maximum of 1.1459.
More in the video forecast for February 28
Trade remains in the region of 30- and 50- moving averages, which indicates the lateral nature of the market with the advantage of euro buyers.
Bollinger Bands indicator volatility is very low, which does not give signals on market entry.
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 20The material has been provided by InstaForex Company - www.instaforex.com