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31.08.201812:29 Forex Analysis & Reviews: Trading plan for the European session on August 31 EUR / USD

Long-term review

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

Yesterday, euro buyers failed to gain a foothold above the level of 1.1708, which remains their priority for today. Breakdown of this area will lead to a new monthly maximum in the area of 1.1753 and 1.1792, where I recommend fixing profits. If the euro falls below support level 1.1654, you can go back to purchases after testing a minimum of 1.1607 or on a rebound from the level of 1.1538.

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

Bears will be eager to return to support level 1.1654, which will lead to a larger sale with the renewal of lows 1.1607 and 1.1538, where I recommend fixing profits. If EUR / USD rises in the morning, forming a false breakout at 1.708 would be a good signal for sales. Otherwise, to open short positions is best for a rebound from 1.1753 or 1.1792.

Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

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

Bollinger Bands 20

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