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08.06.201810:14 Forex Analysis & Reviews: Trading plan for the European session on June 8 EUR / USD

Long-term review

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To open long positions for EURUSD, you need:

Opening new long positions must be done with a little care. The breakdown and a consolidation above the level of 1.1819 will allow us to count on a new wave of growth of the European currency with the update of the monthly highs around 1.1869 and 1.1923. If the EUR / USD falls in the morning under the support level of 1.1784, buying the euro is best after the test of 1.1739 and the rebound from 1.1695.

To open short positions for EURUSD, you need:

The unsuccessful fastening above the resistance level of 1.1819 with a return to this level in the first half of the day will be the first signal for opening short positions in the euros with the main goal of a breakdown and a consolidation below the support level of 1.1784, which will lead to the formation of a larger downward correction to the area 1.1739 and 1.1695, where it is recommended to lock in profits. In case of growth above the level of 1.1819, the euro can be sold for a rebound on 1.1869 and 1.1923.

Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

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