Trading plan for the European session of EUR / USD pair on August 6
To open long positions for EUR / USD pair, you need:
It is best to consider long positions of the euro after returning and consolidating above the resistance level 1.1564, which opens a direct road to a bigger area around 1.1597, where fixing profits are recommended today. If the EUR / USD continues to decline in the morning, long positions can be expected to rebound from 1.1529 or from a larger area at 1.1482.
To open short positions for EUR / USD pair, you need:
As long as the trade is below 1.1564, the pressure on the euro will continue, and the formation of a false breakout in the morning at this level will be an additional signal to the sales to reduce and consolidate below 1.1529 support, which opens access to a new low in area of 1.1482, where fixing profits are recommended. If the euro rises in the first half of the day above 1.1564, you can sell for a rebound from resistance 1.1597.
Description of indicators
- MA (average sliding) 50 days – yellow
- MA (average sliding) 30 days – green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20