Trading plan for the European session of EUR / USD pair on July 18
To open long positions for EUR / USD pair, you need:
It is better not to hurry in purchasing the euro and advised to look at long positions in the first half of the day after updating support in the area of 1.1614 with the formation of a false breakdown there or on a rebound from the new low at 1.1592. The main task of the buyers is to return and consolidation above 1.1652, which will lead to a larger upward correction to the area of 1.1690, where fixing profits are recommended.
To open short positions for EUR / USD pair, you need:
While the trade is below 1.1652, the pressure on the euro will continue, which will lead to the renewal of support 1.1614 and, quite possibly, to a new low at 1.1592, where fixing profits are recommended. In the case of growth above 1.1652, selling EUR / USD can be rebounded from the resistance of 1.1690.
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