10.07.202014:52 Forex Analysis & Reviews: EUR/USD: plan for the American session on July 10

To open long positions on EURUSD, you need:

From a technical point of view, there were no changes, except for the sell signal, which was formed in the first half of the day and did not bring a profit. If you look at the 5-minute chart, you can see how the bears hold the level of 1.1267 and test it from the bottom up, after which another wave of decline in the euro begins to form, which turned out to be quite short. After some time, buyers returned to the level of 1.1267 and began to actively grow the pair. Therefore, at the moment, the task of the bulls remains to protect the support of 1.1267, since its breakdown will lead to a break in the upward trend formed on July 1 this year. I recommend opening long positions from this range only after a repeated decline and testing this level. When the support breaks 1.1267, it is best to wait for the update of the new low of 1.1233 and open long positions from it immediately for a rebound in the expectation of a correction of 20-25 points within the day. Larger bulls will prefer to wait for the update of the area of 1.1193. An equally important task will be to return EUR/USD to the resistance level of 1.1311, fixing above which will be an additional signal to buy, which can lead to the maximum of the week in the area of 1.1347, where I recommend fixing the profits.

To open short positions on EURUSD, you need:

Only a repeated consolidation below the support of 1.1267 will be a signal to open short positions in the euro in the hope of reducing and updating the larger minimum of 1.1233, where I recommend fixing the profits. The longer-term goal will be the area of 1.1193. If the pair grows in the second half of the day, it is best to stop selling before forming a false breakout in the area of the resistance of 1.1311 or open short positions immediately to rebound from the larger resistance of 1.1347 in the expectation of a downward correction by the end of the day of 20-25 points.

Signals of indicators:

Moving averages

Trading is just below the 30 and 50 daily moving averages, which keeps the market on the side of euro sellers.

Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differ from the general definition of the classic daily moving averages on the daily chart D1.

Bollinger Bands

Breaking the lower border of the indicator in the area of 1.1267 will increase pressure on the euro. Growth above the upper limit in the area of 1.1305 will lead to bullish momentum.

Description of indicators

• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
• MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
• Bollinger Bands (Bollinger Bands). Period 20