Forexpamm

EUR/USD: Plan for the American session on November 1.

Relevance until 19:00 UTC+1To open long positions on EURUSD is required:In the first half of the day, the bulls once again declared themselves without leaving the pair below the support at 1.1149, thus forming a triangle, a breakthrough of which will determine the further direction of the euro. If labor market data turns out to be worse than economists’ forecasts, a breakthrough of the upper boundary of the triangle will lead to the growth of the euro with the test of last month’s maximum around 1.1180. However, it will be possible to speak about a new upward trend only after fixing above this level that will lead to renewal of resistance at 1.1226 and 1.1263, where I recommend to fix the profit. If the Euro falls and the triangle breaks through, it is better to consider new purchases only after the support test at 1.1116 or to buy them immediately after a jump from the low at 1.1082.To open short positions on EURUSD is required:Sellers tried to move below the 1.1149 level in the morning, but failed to consolidate below this range. Only good data on the U.S. labor market can lead to a breakthrough of the lower boundary of the triangle, which will allow you to return to the lows of 1.1116 and 1.1082, where I recommend to fix profits. In case of euro growth, it is better to consider short positions only after the formation of a false break-up around last month’s high of 1.1180 or sell immediately after the rebound from the level of 1.1226.More details about the forecast can be found in the video overview.Indicator signals:Average slidingTrading is conducted in the range of 30 and 50 moving averages, which indicates the market uncertainty.Bollinger BandsVolatility has decreased before the data, which does not give signals for market entry.Description of indicators