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18.06.201809:20 Forex Analysis & Reviews: Trading plan for the European session on June 18 EUR/USD

Long-term review

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To open long positions for EURUSD, it is required:

Buyers need to return to the resistance level of 1.1606 in order to resume the upward correction, which will allow them to count on a new impulse with the update of the resistance of 1.1649 and 1.1694, where I recommend profit taking. In the event of a further decline in the euro, only a false break on the support of 1.1571 will allow you to look at new purchases of the EUR/USD. Otherwise, you can open long positions only on the rebound from 1.1522.

To open short positions for EURUSD, it is required:

The formation of a false breakout at 1.1606, or a repeated support test at 1.1571, will be a good signal for opening new short positions in euros in order to update the monthly lows around 1.1522 and 1.1482, where I recommend locking in profits for today. In case of growth above 1.1606 in the first half of the day, selling of the EUR/USD can be seen in the area of 1.1649 and 1.1694.

Indicator description

Moving Average (average sliding) 50 days - yellow
Moving Average (average sliding) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20

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