EUR / USD plan for the US session on April 11. Euro remains in the channel while market uncertainty remains
To open long positions on EUR / USD pair, you need:
Data on inflation in Germany coincided with forecasts of economists and limited the upward potential of the euro, while the report on inflation in the United States led to a decrease in the pair. At the moment, buyers will try to form a false breakdown in the support area of 1.1260, but I recommend to open long positions immediately for a rebound only at a minimum of 1.1232. The main objective of the bulls remains to break through at the resistance of 1.1287, which will lead to a new upward trend in the area of highs at 1.1324 and 1.1358, where I recommend fixing profits.
To open short positions on EUR / USD pair, you need:
The bears showed themselves and formed a false breakdown in the area of resistance at 1.1287, to which I drew attention in my morning review, which led to renewed pressure on the euro and a decline in the area of support 1.1260. The main task of sellers for the second half of the day will be to breakthrough at the level of 1.1260 and a minimum test in the area of 1.1232 and 1.1183, where I recommend taking profits. With the EUR / USD growth scenario above 1.1287, it is best to consider short positions on a rebound from the maximum of 1.1324.
More in the video forecast for April 11
Trade is conducted in the region of 30 and 50 moving averages, which indicates keeping the lateral nature of the market.
The pressure on the euro may increase in the event of a breakdown of the lower limit of the Bollinger Bands indicator in the region of 1.1260.
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