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04.05.201814:27 Forex Analysis & Reviews: Trading plan for the US session on May 4 EUR / USD

Long-term review

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To open long positions for EUR / USD, you need:

The situation has not changed. The false breakdown and a return to the support level of 1.1950 will be a good signal for the opening of long positions in euros, calculated for correction to the resistance area of 1.2006, above which it was impossible to climb yesterday. Only the consolidation at this level will lead to a larger upward trend, with the renewal of resistances of 1.2062 and 1.2102. In the case of a decline in the euro, purchases can be seen after the support test of 1.1900 and 1.1866.

To open short positions for EUR / USD, you need:

A rush and consolidation below the support level of 1.1950 will lead to a new wave of sales of the European currency with a test of new monthly lows around 1.1900 and 1.1866, where I recommend fixing the profits. In the case of the growth of the euro after the data on the labor market in the US, a false breakdown from 1.2006 will also be a signal for sales. Otherwise, I recommend selling only for a rebound from 1.2062.

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

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