02.07.202015:03 Forex-elemzések és áttekintések: EUR/USD: plan for the American session on July 2

To open long positions on EURUSD, you need:

In my morning forecast, I paid attention to purchases after fixing above the resistance of 1.1286. However, if you look at the 5-minute chart, the repeated test of this range after the breakdown was not successful, and the bears returned trading to the level of 1.1286, which crossed out the plans of buyers. As a result, everyone was waiting for reports on the US labor market, which led to the formation of a new resistance of 1.1297. In the second half of the day, the focus will be on this level, since only fixing higher will be a signal to open long positions in EUR/USD in the expectation of continuing growth to the highs of 1.1325 and 1.1381, where I recommend fixing the profits. In the scenario of a decline in the euro in the second half of the day, and good statistics on the US economy should someday benefit the dollar, it is best to postpone long positions to the test of the minimum 1.1241 and buy the euro there immediately for a rebound in the expectation of a correction of 25-30 points within the day. Larger purchases are best pushed back to the week's low of 1.1193.

To open short positions on EURUSD, you need:

Bears coped with the task and did not let the euro go above the local weekly highs, slightly shifting the resistance to the level of 1.1297, which they should protect in the second half of the day. The formation of a false breakout on it will be a signal to sell the euro in the expectation of a decrease to the minimum of 1.1241, however, the longer-term goal remains the lower border of the side channel of 1.1193, where I recommend fixing the profits. A good report on the state of the American labor market should direct the pair to this range. If the euro rises above 1.1297, it is best to postpone short positions until the maximum of 1.1325 is updated or sell the pair immediately for a rebound from the resistance of 1.1381, counting on a correction of 25-30 points within the day.

Signals of indicators:

Moving averages

Trading is conducted above the 30 and 50 daily moving averages, however, we do not have to talk about the advantage of euro buyers yet.

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

A test of the lower border of the indicator around 1.1230 may limit the bullish momentum in the euro.

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