27.05.202013:37 Forex-elemzések és áttekintések: EUR/USD: plan for the American session on May 27 (analysis of morning deals). The European Commission's economic recovery plan was supported by the euro. The bulls are targeting the resistance of 1.1048

To open long positions on EURUSD, you need:

While Donald Trump is thinking about how to ruin the life of China, the European Commission has published its plan for economic recovery, under which an additional 750 billion euros will be allocated. This news pleased buyers of the European currency, who tried their best in the first half of the day to keep the pair above the support of 1.0952, which I drew attention to in my review. If you look at the 5-minute chart, you can see how the bulls allowed to take down stop orders below the level of 1.0952, and then actively returned to the market, which allowed them to break above the resistance of 1.0994 without problems, and gain a foothold on it. At the moment, while trading will be conducted above this level, the demand for the euro will remain, which may lead to an update of the maximum of 1.1048, where I recommend fixing the profits. If the bears manage to push the pair below the level of 1.0994 in the second half of the day, the pressure on EUR/USD may increase. In this scenario, it is best to count on long positions only after testing the minimum of 1.0952 or buy immediately for a rebound from the support of 1.0917 with the goal of an upward correction of 20-30 points.

To open short positions on EURUSD, you need:

Sellers tried to implement their plans, and after repeated attempts to break below the support of 1.0952, which is clearly visible on the 5-minute chart, they even seemed to achieve their goal, but the report from the European Commission confused all the cards. Given that traders only needed good news to continue the bull market, the bears did not resist much at 1.0994, the breakout of which led to new weekly highs. At the moment, the task of the bears is to return and consolidate below the support of 1.0994, which will reduce the ardor of buyers and lead to the return of EUR/USD to the area of the minimum 1.0952, where I recommend fixing the profits. If the demand for the euro continues in the second half of the day, and most likely it will be so, since important fundamental statistics are not published today, then it is best to consider short positions after forming a false breakout in the resistance area of 1.1048 or sell the euro immediately on a rebound from the maximum of 1.1093.

Signals of indicators:

Moving averages

Trading is again above the 30 and 50 daily moving averages, which indicates a continuation of the bull market.

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

In the case of a downward correction in the second half of the day, the average border of the indicator around 1.0975 will provide support.

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