25.06.201915:45 Forex Analysis & Reviews: EUR / USD plan for the US session on June 25. The euro correction is about to begin, but much depends on the Fed chairman's speech

To open long positions on EUR/USD pair, you need:

Euro buyers are gradually withdrawing from the market before an important speech by the Fed Chairman and their main task at the moment is to return and consolidate above the resistance 1.1401, which was formed in the morning. Only after such, it will be possible to count on further growth of EUR / USD in the region of the highs of 1.1430 and 1.1459, where I recommend taking profits. With a downward correction scenario (which has been asking for quite some time), long positions can be returned to the 1.1361 support test, provided that a false breakdown occurs or to rebound from a minimum of 1.1321.

To open short positions on EUR/USD pair, you need:

The bearish scenario can be played by big players during the Fed chairman's speech, which will be held later in the evening. An unsuccessful fixation above the 1.1401 resistance in the second half of the day will be a signal to open short positions in order to return to the support area of 1.1361. A breakthrough of which will lead to a larger downward correction to the lows of 1.1321 and 1.1286, where I recommend taking profits. If the demand for the euro returns during a speech by Jerome Powell, then it's best to look closely at EUR/USD sales after testing the highs of 1.1430 and 1.1459.

Indicator signals:

Moving averages

Trade is conducted in the region of 30 and 50 moving averages, which indicates a possible correction of the euro in the afternoon.

Bollinger bands

A break of the lower border of the indicator in the area of 1.1380 will lead to a larger drop in the euro.

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

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