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09.06.201801:40 Forex Analysis & Reviews: Trading plan for the US session on June 8 for the EUR/USD

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

To open long positions on EURUSD it is required:

Buyers expectedly retreated, and now the entire calculation is at support level 1.1734. While the trade is above this range, a correction to the resistance area 1.1773 is quite realistic, and a break above will quickly lead to a return to the area of the highs of the day with an update of 1.1819, where it is recommended recording profits. In the event of a further decline in the euro, buying can be made on the rebound of 1.1695.

To open short positions on EURUSD it is required:

Repeated test of 1.1734 may lead to breakdown and consolidation, which will cause a sellout of the euro to the support area 1.1695, where it is recommended recording profits. In the case of an upward correction in the afternoon, selling can be made on a false breakout from 1.1773 and on a rebound from 1.1819.

Exchange Rates 09.06.2018 analysis

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
Miroslaw Bawulski
Analytical expert of InstaForex
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