02.05.201800:55 Forex Analysis & Reviews: Trading plan for the US session on May 1 for EUR/USD

Long-term review

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To open long positions on EURUSD, it is required:

The calculation of euro buyers is now reduced to the level of support 1.2023, but to open long positions from it is best when forming a false breakdown. Under the scenario of a breakdown, one can immediately buy euros for a rebound from 1.1987. The main target of the buyers will be the return and consolidation by the end of the day at the level of 1.2058.

To open short positions on EURUSD, it is required:

Repeated test 1.2023 could lead to a new wave of selling the European currency in order to update the next low in the support area 1.1987. In case of EUR/USD growth in the second half of the day, one can count on selling after an unsuccessful fastening above 1.2058, or on a rebound from 1.2102.

Descriptors

MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA
Bollinger Bands 20

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