EUR / USD pair: plan for the American session on January 15. Weak data on the euro area led to the fall of the euro

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

In the first half of the day, a report was released on the Eurozone's foreign trade surplus, which r amounted to only 19.0 billion euros in November last year against 23.4 billion euros in November 2017, which put pressure on the euro. Currently, buyers are required to return to the resistance level of 1.1440, above which we can expect a larger upward trend in the area of 1.1472, where I recommend taking profits. If the pressure on the euro continues further, it is best to consider new long positions after updating the minima of 1.1407 and 1.1378.

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

Bears coped with the task for the first half of the day. Currently, only an unsuccessful consolidation and a return below the resistance level of 1.1440 can lead to a further decline in the European currency in the area of the minimums of 1.1407 and 1.1378, where I recommend taking profits. Weak data on the producer price index in the US may lead to a larger upward correction in the area of 1.1472, where you can open short positions in EUR/USD pair to immediately rebound.

Indicator signals:

Moving averages

Trade is conducted below the 30- and 50-moving averages, which indicates that the downward trend in the market continues.

Bollinger bands

The volatility of the Bollinger Bands indicator has dropped, which does not give signals to enter the market.

More in the video forecast for January 15

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