EUR/USD: plan for the US session on December 19. The euro shows no signs of life. Low volatility will keep the pressure on the pair

To open long positions on EURUSD, you need:

Against the background of the absence of important fundamental statistics, the European currency shows no signs of life paired with the US dollar and is trading with the lowest intraday volatility in recent times. If the bulls fail to regain the resistance of 1.1132, the pressure on the euro will likely return in the afternoon. Therefore, the key task of the bulls is to break and consolidate above the level of 1.1132, as only such a scenario will lead to an upward correction of EUR/USD in the area of the upper border of the side channel 1.1172, where I recommend taking the profits. In case of unsuccessful consolidation above 1.1132, I recommend to postpone long positions until the minimum of 1.1090 is updated, and in case of a larger fall of the euro, after data on the US economy, it is best to consider new purchases for a rebound from the area of 1.1041.

To open short positions on EURUSD, you need:

Bears continue to defend the resistance of 1.1132, and the formation of a false breakout on it in the second half of the day will be a signal to open short positions to reduce to the area of the lows of 1.1090 and 1.1041, where I recommend taking the profits. Weak data on the US economy, which in general do not represent serious importance for the market, can strengthen the position of the euro. Therefore, in the scenario of consolidation above the resistance of 1.1132, I recommend selling EUR/USD only on a rebound from the maximum of 1.1172, or after updating the monthly resistance around 1.1198.

Indicator signals:

Moving Averages

Trading is conducted around 30 and 50 moving averages, which indicates market uncertainty.

Bollinger Bands

If the euro falls in the second half of the day, the lower border of the indicator around 1.1105 will act as support.

Description of indicators