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EUR / USD: plan for the US session on December 21. Euro buyers did not cope. The market goes to the bears

To open long positions on EUR / USD, you need:

Euro buyers were unable to cope with the task of fixing above 1.1471, to which I called my attention in the morning forecast, which, as expected, led to a sale. At the moment, it is best to return to long positions after reducing and updating the support level of 1.1402, but the main task for the second half of the day will be the breakthrough of the resistance level of 1.1438. Only after this, the demand for EUR / USD will return more substantial, which will lead the pair to the area of a weekly high of 1.1471-80, where I recommend fixing the profits.

To open short positions on EUR / USD, you need:

The bears have worked perfectly on the resistance level of 1.1471, from which I recommended to open short positions. Currently, traders are waiting for the release of US GDP data, which could lead to another downward wave of the euro in the support area of 1.1402 and 1.1377, where I recommend fixing the profits. The formation of a false breakdown at the resistance level of 1.1438 will also be a signal to sell EUR / USD in the afternoon. In the case of weak data on the American economy, I recommend selling the euro immediately to rebound from a maximum of 1.1471-80.

Indicator signals:

Moving Averages

Trade has moved to the area of 30-day and 50-day averages, which indicates the end of the upward correction for the euro.

Bollinger bands

If the euro rises in the second half of the day, it is best to return to sales from the Bollinger Bands average indicator around 1.1445.

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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