EUR / USD plan for the US session on March 20. All attention to the Fed meeting

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

The situation in the euro has not changed in comparison with the morning forecast, however, buyers managed to show themselves from the support level of 1.1337, to which I paid attention. The main task of the bulls remains a breakthrough and consolidation above the resistance of 1.1370, which will lead to a new wave of growth in the area of 1.4107 maximum, where I recommend fixing the profit. With the scenario of EUR/USD decline in the second half of the day, long positions can only be expected after a false breakdown in today's low of 1.1337 or a rebound from the larger support area of 1.1301 and 1.1278.

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

If the Fed announces a return to soft monetary policy in the afternoon, the pressure on the US dollar will increase. In this scenario, it is best to rely on short positions after the update of the maximum around 1.1407 and 1.1460. If the main approaches of the Fed does not change, the bears can return to the market. The unsuccessful consolidation above the resistance of 1.1370 will be the first signal to open short positions in order to break and consolidate below support 1.1337. A breakthrough of 1.1337 will lead to a larger sale of EUR/USD and lows in the area of 1.1301 and 1.1278, where I recommend taking profits.

More in the video forecast for March 20

Indicator signals:

Moving averages

Trade has moved to the area of 30 and 50 day moving averages, which indicates the lateral nature of the market before the release of important data.

Bollinger bands

Volatility in the Bollinger Bands indicator is very low, which does not give signals on market entry.

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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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