Trading plan for the US session of EUR / USD pair on September 6
To open long positions for EUR / USD pair, you need:
Buyers were unable to get above resistance 1.1646 in the morning. Now you can count only on the formation of a false breakout in the area of 1.1610, which will signal a purchase of the euro for the purpose of re-growth and consolidation above resistance of 1.1646. Then, this could lead to a larger upward wave to 1.1686, where fixing profits are recommended. If the euro falls below the support level of 1.1610, you can go back immediately to the rebound from 1.1574.
To open short positions for EUR / USD pair, you need:
Sellers did not let the euro rise above 1.1646, which is a good signal for a downward correction, but the bear needs a return to support 1.1610. Only after that, it will be possible to talk about the formation of a major downward wave with the renewal of the week’s lows around 1.1574 and 1.1531, where fixing profits are recommended. If EUR / USD rises in the second half of the day, sales are best returned to a rebound of 1.1686.
Description of indicators
- MA (average sliding) 50 days – yellow
- MA (average sliding) 30 days – green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20