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22.05.201801:04 Forex Analysis & Reviews: Trading plan for the US session on May 21 EUR/USD

Long-term review

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To open long positions for EURUSD, it is required:

Buyers quickly returned to the level of 1.1742, and while trading is conducted on this range, we can expect the continued growth of the euro towards the resistance of 1.1786, where I recommend to lock in the profit. In the event of a decline below the level of 1.1742 in the afternoon, I recommend that you return to buying only on the rebound from 1.1710 and 1.1683.

To open short positions for EURUSD, it is required:

It is best to consider new selling of the euro after returning to the level of 1.1742, which will open a new prospect for reducing and updating the support level of 1.1710 and 1.1683, where I recommend profit-taking. In the case the euro increases in the afternoon, sales can be made directly on the rebound from 1.1786.

Indicator description

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

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