empty
09.12.2019 07:13 AM
EUR/USD: plan for the European session on December 9. Data on the labor market signaled a good state of the US economy

To open long positions on EURUSD, you need:

Data on the US labor market, which was much better than economists' forecasts, strengthened investors' confidence that the Federal Reserve will no longer lower interest rates this year. This fact led to a sharp increase in the US dollar. At the moment, buyers of the euro need an urgent return to the resistance level of 1.1067, as it depends on it whether the downward movement will continue or not. If bulls fail to do this in the first half of the day, it is best to postpone purchases until the formation of a false breakout in the support area of 1.1035, but it is best to buy EUR/USD immediately on the rebound from the minimum of 1.1004. The breakout and consolidation of the euro above the resistance of 1.1067 will lead to a larger upward correction and the return of the pair to the area of the maximum of 1.1092, where I recommend taking the profits.

To open short positions on EURUSD, you need:

Bears only have to form a false breakout in the resistance area of 1.1067, which will be the first signal to open short positions in the euro. Weak data on the German foreign trade balance can lead to a breakdown and consolidation below the support of 1.1035, which will increase the pressure on the pair and allow sellers to reach the lows of 1.1004 and 1.0982, where I recommend fixing the profits. If the bears miss the level of 1.1067 in the first half of the day, then do not rush to open short positions. It is best to wait for the resistance update of 1.092 and sell the euro from there immediately on the rebound.

Indicator signals:

Moving Averages

Trading is conducted below 30 and 50 moving averages, which can lead to further downward correction in the pair.

Bollinger Bands

In the case of further decline, the euro will be supported by the lower border of the indicator, located in the area of 1.1035, while the growth will be limited to the middle of the channel in the area of 1.1065.

This image is no longer relevant

Description of indicators

  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
  • MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
  • Bollinger Bands (Bollinger Bands). Period 20
Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Maxim Magdalinin
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

How to Trade the GBP/USD Pair on July 23? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD The GBP/USD pair also continued its upward movement on Tuesday. As expected, this did not require any news or reports. One could

Paolo Greco 06:51 2025-07-23 UTC+2

How to Trade the EUR/USD Pair on July 23? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair continued its upward movement, as expected. Recall that the day before, the price consolidated above

Paolo Greco 06:51 2025-07-23 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on July 23: The Lawful Uptrend Continues

On Tuesday, the GBP/USD currency pair also continued its upward movement. While the new decline of the U.S. dollar could be attributed to Jerome Powell's speech—as the only major event

Paolo Greco 03:33 2025-07-23 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 23: The Predictable Decline of the Dollar Continues

On Tuesday, the EUR/USD currency pair remained flat for the first half of the day and then moved higher in the second half. During the U.S. session, Jerome Powell delivered

Paolo Greco 03:33 2025-07-23 UTC+2

How to Trade the GBP/USD Pair on July 22? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair exhibited movements nearly identical to those of the EUR/USD pair. This suggests that the US dollar

Paolo Greco 06:39 2025-07-22 UTC+2

How to Trade the EUR/USD Pair on July 22? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair is likely to have completed a three-week downward trend. As a reminder, over the past

Paolo Greco 06:39 2025-07-22 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on July 22: The Pound Begins to Reverse the Trend

The GBP/USD currency pair also maintained an upward trajectory throughout Monday. The reasons were identical to those for EUR/USD. The dollar had been rising for three weeks on pure trader

Paolo Greco 03:45 2025-07-22 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 22: The Dollar's Fairytale Is Over

On Monday, the EUR/USD currency pair continued its upward movement, which began last week. There were no local macroeconomic reasons for the euro's rise, but there were plenty of fundamental

Paolo Greco 03:45 2025-07-22 UTC+2

GBP/USD: Trading Plan for the European Session on July 21. Commitment of Traders (COT) Reports (Analysis of Yesterday's Trades). Pound Attempted to Recover

Last Friday, only one entry point into the market was formed. Let's look at the 5-minute chart and analyze what happened. In my morning forecast, I highlighted the 1.3442 level

Miroslaw Bawulski 08:12 2025-07-21 UTC+2

EUR/USD: Trading Plan for the European Session on July 21. Commitment of Traders (COT) Reports (Analysis of Yesterday's Trades). Euro Correction Is Nearing Its End

Only one market entry point was formed last Friday. Let's look at the 5-minute chart to see what happened. In my morning forecast, I highlighted the 1.1654 level

Miroslaw Bawulski 08:11 2025-07-21 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.