Forexpamm

EUR/USD: Plan for the U.S. session on October 28.

Relevance until 20:00 UTC+1To open long positions on EURUSD is required:A good report on the rise in German wholesale prices supported the euro in the morning, but as I expected, it broke above the resistance at 1.1095 and gained ground there, but failed to do so. The news that the EU has approved the postponement of the UK’s exit deadline has also failed to support the bulls. At the moment, the task of buyers is to return to the level of 1.1095, and only then we can expect a larger upward correction in the area of highs of 1.1120 and 1.1149, where I recommend to fix profits. If the pressure on the euro comes back, and this may happen during the speech of the European Central Bank President Mario Draghi, it is better to consider the new long positions after a false break-down in the support area of 1.1006, or to buy by the rebound from the low of 1.1026.To open short positions on EURUSD is required:The sellers coped with the task for the first half of the day and did not let the pair rise above the resistance at 1.1095, forming a false break-up there, which is a signal to sell the euro. That’s what I said in more detail in my morning forecast. At the moment, while the trade is below the resistance at 1.1095, the pressure on the pair will remain, and the speech of ECB President Mario Draghi may lead to a new weekly low at 1.1066, and its breakthrough, which will hit the bulls at the stop orders and push the euro even lower, to the support of 1.1026, where I recommend to fix the profit. If Draghi’s performance is ignored, it is better to return to short positions from the resistance at 1.1120, or from the new high at 1.1149.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 BandsThe support is the lower limit of the indicator around 1.1075.Description of indicators