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23.05.201800:55 Forex Analysis & Reviews: Trading plan for the US session on May 22 for the EUR/USD

Long-term review

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To open long positions on EURUSD it is required:

Buyers managed to reach the resistance of 1.1818 in the morning, but, as we see on the schedule, it was not possible to get a hold of this level. It is better to consider new long positions in the second half of the day after re-testing and breaking through resistance 1.1818 in order to update a new high near 1.1850, where it is recommended fixing profits. In case of further reduction of the euro, the level 1.1759 is still relevant for buying.

To open short positions on EURUSD it is required:

The sellers formed a false breakout in the area of 1.1818, and while the trade is below this range, the pressure on the euro will continue. The key goal will be to return to support at the day's lows around 1.1759. In the case of growth above 1.1818, today the euro can be sold on a rebound from 1.1850.

Description of indicators

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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